Fidelity has marked down the value of its Twitter/X shares by 65%, according to new disclosures. The markdown comes after a previous 8% write-down in September. The decline in valuation is possibly due to similar declines in companies like Snapchat. The reason behind Twitter/X's 56% valuation drop in one year is still unknown.
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NEWS: Fidelity marked down its valuation of 𝕏 by around 10% in September, after several months of rises. This is possibly a reflection of similar companies like $SNAP (Snapchat) declining by ~10% in the same timeframe. https://t.co/lp98hT8r7S
Fidelity has marked down the value of Twitter/X by 65% https://t.co/2k4sYIRuu3 $TWTRX
Fidelity has marked down the value of Twitter/X by 65% https://t.co/Ilc3PTn130
Fidelity wrote the value of its Twitter/X shares down by another 8% during the month of September, per new disclosures.
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