A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October.
According to a monthly disclosure, Fidelity’s Blue Chip Growth Fund reported that its stake in Twitter was worth $6.55 million at the end of April. That’s down from the $19.66 million the Fidelity fund said its stake was worth in October as Musk was finalizing the acquisition. The revision implies Twitter may be worth only $15 billion overall, as opposed to Musk’s $44 billion purchase price.
Under Musk’s watch, Twitter has laid off much of its staff, lost many of its advertisers and embarked on a troubled rollout of a paid subscription service and the end of traditional user verification that has led in some cases to impersonations of brands and high-profile accounts. Fidelity has repeatedly marked down Twitter’s value. Its stake was worth $8.63 million in November and then $7.8 million in January, Reuters has previously reported.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fidelity marks down value of Twitter stake for third time since Elon Musk takeoverFidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s X Holdings Corp, was valued at nearly $6.55 million as of April 28, compared with $7.8 million as of Jan…
Consulte Mais informação »
Fidelity: Twitter is Now Only Worth a Third of What Elon Musk Paid for ItUnder Musk's leadership, the bird app has continued to plummet in value--with no end in sight.
Consulte Mais informação »
Twitter is only worth a third of what Elon Musk paid for it, FidelityInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Consulte Mais informação »
Twitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity Says(Bloomberg) -- Twitter is now worth just one-third of what Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its stake in the company. Most Read from BloombergPutin Orders Tighter Defenses After Drone Strikes on MoscowWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesStock Rally Hits a Wall After AI-Driven Euphoria: Markets WrapTaiwan Rushes to Prevent China From Cutting Internet, PhonesNvidia Touches $1 Trillion Mark
Consulte Mais informação »
Twitter is now worth just 33% of Elon Musk’s purchase price, Fidelity saysTwitter has struggled financially since Musk took over. After saddling the company with $13 billion of debt, Musk’s erratic decision making and challenges with content moderation led advertising re…
Consulte Mais informação »
Twitter is worth just 33% of what Elon Musk bought it for, Fidelity saysMusk bought Twitter last year for $44 billion, but Fidelity says it's worth a lot less now.
Consulte Mais informação »