A view of the Twitter logo at its corporate headquarters in San Francisco, California, U.S. November 18, 2022. REUTERS/Carlos Barriamonthly 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 Blue Chip Growth Fund's stake in Twitter was valued at nearly $8.63 million as of Nov. 30, compared to $19.66 million at October-end, days after Musk closed the acquisition.The news was first reported by Axios.
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. Technology stocks have also suffered heavy losses this year as the Federal Reserve raised interest rates aggressively to douse inflation, raising odds of a recession.
Source: News Formal (newsformal.com)
3872N8768W Time for someone to buy .
Twitter down 56% and Tesla down 70%
Sure tech stocks took a hit in 2022.. but I don’t know any that lost 56% in one month
Excellent. It’s improved.
It’s probably still too high Fidelity
🍿
Sometimes I wonder whether you post such headlines to simply entice Elon into posting in your comments to boost clicks.
Know your audience bro
Not every company owned by elonmusk is functioning well according to his whims and fantasies.
What s that annualized?
Reuters is probably worth nothing all lies and fake news
Twitter is run by a fascist.
Not as bad as projected...🫣
BREAKING: elonmusk on pace 4 selling Twitter 4 enormous loss in 6 months ...
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