A recent disclosure from investment firm Fidelity points to it further marking down its stake in Twitter since the Elon Musk takeover of the company took place for $44 billion.said Fidelity first reduced the value of its Twitter stake in November – down to 44% of its purchase price. This was followed by further markdowns in December and February., “Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s X Holdings Corp, was valued at nearly $6.
Bloomberg added it was unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company. The implications of this point to Twitter being valued now at about $15 billion, a significant downgrade from the price Musk paid for the social media platform back in the day.
Musk’s erratic handling of Twitter – from enabling the alt-right and conspiracy theorists to get a foothold again on the platform to its haphazard pricing for its premium “Twitter Blue” offering – and lack of proper enforcement of the platform’s rules as CEO of the company have not helped matters.– Rappler.com
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