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1. An angel who has rebelled against God and has been subsequently cast out of heaven. The Bible describes Lucifer as having become a fallen angel after he desired to become God rather than be a servant of God.
2. In finance, a stock or bond that has drastically declined in value. Try to avoid investing in fallen angels—they may have been highly priced once, but they will never return to their original value.
3. A company or organization that was previously successful but is currently failing. The high school's debate team was this year's fallen angel, losing all of their competitions after being dominant last year.
a fallen angel
1. If someone is a fallen angel, they were once well-behaved, but are now badly-behaved. She went from shy posh girl to fallen angel, before going all the way to tragic heroine.
2. If a company or a sports team is a fallen angel, they were once successful, but are now unsuccessful. The firm was a fallen angel that halved in value but has since recovered.