Fallen Angel
1. A bond that was once investment grade but has since been reduced to junk bond status.
2. A stock that has fallen substantially from its all time highs.
Investopedia Commentary
There is a fine line between fallen angels that are value stocks and those that are headed straight towards bankruptcy.
Related Links
Bond Basics Tutorial
Junk Bonds: Everything You Need to Know
Stock Basics Tutorial
See also: Bond Rating, Correction, Falling Knife, Investment Grade, Value Stock
fallen angel