Meanwhile: at #X things can only get..... Worse
Fidelity cut its valuation of the company by 79%, putting Twitter's value at a fraction of the $44 billion acquisition price. - The asset manager’s Blue Chip Growth Fund now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The firm’s unit has reduced the value of its holding in X by a total of 78.7% as of August end
/nosanitize
This 78.7% markdown implies that Fidelity is currently valuing X at about $9.4 billion overall.