- Facebook, Apple, and Google have all dropped over 25% over the last month.
- Amazon and Netflix have seen smaller drops at 12% in the same span.
- Sportsbooks are setting over-unders for their share price by March 31.
- As the FAANG stocks lead the market, bettors should look to take the over on a few.
NEW YORK – As the NASDAQ hit an all-time high at $9,838 on February 19, the market came tumbling down with the threat of COVID-19. The market is now sitting just above $7,000, as a drop of over 25% took a major hit to the economy.
Though many are unsure how to buy and sell stocks, online sportsbooks are offering a different solution – betting an over or under on a specific stock price at the end of the month.
With the recent volatility, even the blue-chip stocks have taken a dive and FAANG (Facebook, Amazon, Apple, Netflix, and Google) is no exception.
However, as these are some of the priciest stocks around, bettors may not be able to find themselves able to invest in these companies during the hard times, but they are still able to place a bet on where their price will land.
Just before the crash, Facebook (FB) was trading for $217 per share. This was an all-time high for the company that now sits just above $150. The market has seemed to rebound early in the trading period on Thursday, which makes the over-under for FB a tough decision.
Set at $155, bettors may be advised to take the over, as the stock is trading at levels that haven’t been seen since the 2018 presidential election.
There is no doubt that people are using the largest online marketplace during these times of crisis. Amazon (AMZN) has increased their workers during the last month to assist with hefty orders despite their stock dropping from $2170 per share to around $1850.
This is still well over the listed total ($1750 per share) but those invested in this form of legal sports betting should be advised at thinking this can maintain its levels. The Over (-140) is the favorite to the Under’s even odds, but looking at a five-year chart of the company, a further drop could be possible.
Amazon has only traded above $1750 for the past two years and the expensive buy-in price may see a continued sell-off from investors.
Trading at $323 per share a month ago, Apple (AAPL) is now sitting around $245 per share. The company has seen a rather steady drop, as they do not offer many products that people will need in a time like this. The Over-Under is set at $250 and the money has been floating in toward the under.
Apple has only spent the last five months above this trading level, giving bettors an opportunity to take the favorite on the under (-135). Otherwise, bettors can look to take a smaller vigorish and attempt to hit the over (-105).
Netflix (NFLX) will certainly be a heavy topic during the time. As many places are subject to a 14-day quarantine, what is better than watching movies and television programs in the comfort of your own home? The media and production company has only dropped from $386 a share to $330 but they still have a lot to make up in order to hit their over.
Set at $350 per share, bettors shouldn’t be worried about the far distance. In both 2018 and 2019, the share price for Netflix was commonly above $350 per share over the summer.
It was on a sure-fire path to exceed these numbers again, so bettors may see this underdog wager on the over (+140) as the most beneficial bet of the day. The under comes in at -180.
Down over 25% since the drop, Google (GOOGL) has an over-under set at $1100 per share. Starting around $1525 and dropping to the current levels of around $1100, bettors are not being given a lot of lee-way here. Still, as the market seems to be slightly recovering, the over may be the play here.
Google has spent much of its past two years above $1100 per share and though the drop brings it back to a solid base, the company has adjusted well when reaching this level. Even still, the Under (-165) is the favorite, while bettors taking the Over (+125) may find themselves in a fortunate position.
No matter which way bettors are playing the FAANG stock market, it is important to read the details of the bet. The wager ends at the end of March, so there is still plenty of volatility and movement to occur. Either way, the online sportsbook BetOnline is offering betting totals on a handful of other stocks.
Michael began writing as an NBA content writer and has spent time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant. A graduate of both schools, he covers topics focused on legal sports betting, betting odds, and casino reviews. Michael likes to golf, play basketball, hike, and kayak when not glued to the TV watching NBA games.