Twitter's value has taken a nosedive since Elon Musk's acquisition, losing two-thirds of its worth, as per investor disclosure. The social media giant is facing a downward trend, but will it bounce back? 📉
reflected the downgrade. Fidelity owned a $20 million stake in Twitter before it was sold to the Tesla mogul. However, the financial services provider recently reported that as of late April, its stake was worth $6.55 million.
Extrapolating from that figure, the valuation for the company is now around $15 billion. It isn’t clear what factors Fidelity considered when coming up with its valuation, or if it receives non-public information from Twitter.
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