Bosque Posted December 31, 2022 Posted December 31, 2022 Quote Fidelity funds slashed the value of their Twitter stake by 56% in November, according to a monthly disclosure by the investment firm released on Friday, as the social media giant navigates a period of turmoil following Elon Musk's $44 billion buyout. Fidelity's Contrafund valued its Twitter shares at $53.47 million on Oct. 31, which was just days after Musk's deal closed. It then revalued the shares at around $23.46 million as of Nov. 30, representing a 56% decline. Musk's tenure at Twitter so far has been chaotic amid an exodus of advertisers and heavy layoffs. Fidelity was among more than a dozen investors who backed the billionaire's deal to acquire Twitter, committing over $316 million. https://www.axios.com/2022/12/30/twitter-fidelity-valuation Are you surprised by this rather sudden drop in value, given that Musk is renowned for his business genius, and, according to his own words, has taken Twitter to new activity highs in record time?
The7thStranger Posted December 31, 2022 Posted December 31, 2022 It feels a lot like he's burning the farm because the land is worth more. Maybe Twitter has contracts and deals worth more than the user base itself.
Richmond Posted December 31, 2022 Posted December 31, 2022 18 minutes ago, The7thStranger said: It feels a lot like he's burning the farm because the land is worth more. Maybe Twitter has contracts and deals worth more than the user base itself. Now with who would this be?
Thelightiscumin Posted December 31, 2022 Posted December 31, 2022 Activity has gone up but doesn’t mean it drives revenue.
EnigmaticAndroid Posted December 31, 2022 Posted December 31, 2022 But I was told by the Little Muskrats on here that he was going to save the company and bring it to new heights?
BowWow Posted December 31, 2022 Posted December 31, 2022 The investors watched glass onion and finally realised how dumb Elon is thank you daddy Benoit
DonSiblon Posted December 31, 2022 Posted December 31, 2022 Evaluation shevaluation. Engagement at all-time high! Doing very well!
imabadkid Posted December 31, 2022 Posted December 31, 2022 Twitter is dying a v slow death tbh. Like even when a topic is trending, there's v few actual new tweets about that topic... it'll be Tumblr 2.0 in a few yrs, you'll have some active groups who still use it but it'll be a ghost town compared to what it used to be.
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