Fidelity has marked down value of X by 71.5 percent since Musk takeover

Fidelity has marked down the value of its shares in X Holdings Corp., the parent company of the platform formerly known as Twitter, by 71.5 percent since Elon Musk purchased the company in October 2022.

The investment firm cut its valuation of X by about 10.7 percent in November alone, from an estimated $6.3 million at the end of October to just under $5.6 million by the end of the following month, according to a recent filing.

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