Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
I don’t think you understood my comment. I was implying that they owned enough meta stock that sinking Twitter would be a net zero situation for them if meta picked up the slack by taking twitters market share. They actually own so much they might even make a profit.