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Current Events > Fidelity cuts value of stake in Twitter, suggesting 73% decline overall

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Bio1590
03/31/24 3:11:56 PM
#1:


https://fortune.com/2024/03/30/fidelity-x-stake-73-decline-since-elon-musk-twitter-takeover/

FidelitysBlue Chip Growth Fund cut the value of its position in X by 5.7% in February, implying a 73% decline in the former Twitter Inc. since Elon Musk bought the social-media company.

Fidelity, which gained a stake in X by helping Musk complete his $44 billion purchase in October 2022, valued the position at $5.28 million as of Feb. 29, according to a report posted Saturday listing the funds holdings. A month earlier, the value was $5.6 million.

The overall value of the Blue Chip Growth Funds X stake has fallen 73% since Musks purchase, suggesting a similar drop in the value of the company because the fund hasnt disclosed any change in its position in X.

X has been trying to lure back advertisers since Musks chaotic takeover. Last year, ad sales were estimated to be roughly $2.5 billion, falling short of the companys $3 billion target, Bloomberg reported.

Fidelity and X didnt immediately return emails seeking comment sent outside regular business hours.

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https://i.imgur.com/bbRWLI8.gif https://i.imgur.com/A0BErSV.jpg
https://i.imgur.com/S1m3po4.jpg https://i.imgur.com/7fCcfko.jpg
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Irony
03/31/24 3:13:03 PM
#2:


Lmao

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ClayGuida
03/31/24 3:14:06 PM
#3:


Truth Social gonna be worth more than Twitter soon enough.

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lolAmerica
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Irony
03/31/24 3:14:25 PM
#4:


ClayGuida posted...
Truth Social gonna be worth more than Twitter soon enough.
No it won't

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BewmHedshot
03/31/24 3:23:30 PM
#5:


ClayGuida posted...
Truth Social gonna be worth more than Twitter soon enough.
Depends on your definition of "worth"

To me they're both negative value for humanity.
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