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
For context, Fidelity had initially invested $19.66 million in X through the Blue Chip Fund, as per regulatory filings. This isn’t the first time Fidelity has cut the value of its holding in X. As of July’s end, Fidelity had valued its shares in X at about $5.5 million.
https://techcrunch.com/2024/01/02/fidelity-marks-down-x-to-almost-a-third-of-the-investment-price/