Fidelity has cut its estimate of X's value by 79% since Musk's purchase | TechCrunch
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Elon Musk's X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.  The asset manager, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to Fidelity.

Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.

The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.

  • zabadoh@ani.social
    41·
    5 hours ago

    This is why you shouldn’t put your money into human-managed mutual funds.

    Humans make idiotic decisions like helping Musk buy Twitter.

    • krashmo@lemmy.world
      2·
      3 hours ago

      What’s the alternative? AI is telling people to eat glue so that isn’t a viable option imo. I don’t think anything else exists that isn’t human managed, although I’m not entirely sure what you mean by that.