Fidelity marks down X valuation by 71.5%

Mutual fund company Fidelity has marked down its investment in X holdings — the parent company of X (formerly Twitter) owned by Elon Musk — by 71.5% from the original valuation of shares, according to a new disclosure. Fidelity spent $19.2 million to acquire a stake in X back in October 2022. The fund manager
© 2023 TechCrunch. All rights reserved. For personal use only.