Submitted 10 months ago by L4s@lemmy.world [bot] to technology@lemmy.world
https://techcrunch.com/2024/01/02/fidelity-marks-down-x-to-almost-a-third-of-the-investment-price/
Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.
I mean this is just ridiculous. He bough twitter for twice what it was actually worth fmv. He’s since gutted it infrastructural and culturally.
If it went public today under his leadership, there is no way it would be worth even 5% of its prior value.
He bought it with the specific intent of using it to measurably impact the election we’re having in 10 months.
I know this and have repeated it elsewhere. In this particular sense, it does have the value he paid.
Yep.
By design. Which is a good thing for the rest of the world. Twitter has been a cesspool from the start.
Oh no, Anyway.
When can we expect a lawsuit against Fidelity for saying bad things about “X” and how Musky destroyed it?
Shit’s near worthless.
I only have two words. Womp womp
db2@lemmy.world 10 months ago
71.5% so far