A Fidelity fund has marked down the worth of its stake in Twitter for the third time since Elon Musk’s $44 billion takeover of the social media platform in October, a monthly disclosure by the investment firm showed on Sunday.
Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s X Holdings Corp, was valued at nearly $6.55 million as of April 28, compared with $7.8 million as of Jan. 31 and almost $8.63 million at November-end.
A Fidelity fund has marked down the worth of its stake in Twitter for the third time since Elon Musk took over. REUTERS
Musk accomplished his purchase of Twitter in October.AFP via Getty Images
Earlier this month, Musk named former NBCUniversal promoting chief Linda Yaccarino as Twitter’s recent CEO as the corporate struggles to reverse a slump in promoting revenue and navigate an overhaul that included mass layoffs.
