Fidelity has cut X’s value by 79% since Musk purchase
Fidelity estimates Elon Musk's X is now valued at less than 25% of its original $44 billion purchase price.
MAIN POINTS
- Fidelity further reduced X's valuation by 78.7%.
- X was acquired by Elon Musk for $44 billion.
- The current valuation is significantly lower than the purchase price.
TAKEAWAYS
- Significant devaluation occurred since Musk's acquisition.
- Fidelity's markdown reflects substantial loss in asset value.
- X's financial performance may impact future investor decisions.