Fidelity marks down X valuation by 71.5%

TechCrunch
By Ivan MehtaJan 2, 2024, 3:32 am223 pts
Mutual fund company Fidelity has marked down its investment in X holdings — the parent company of X (formerly Twitter) owned by Elon Musk — by 71.5% from the original valuation of shares, according to a new disclosure. Fidelity spent $19.2 million to acquire a stake in X back in October 2022. The fund…

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