Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.

By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).

    • skydivekingair@lemmy.world
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      10 months ago

      Well there’s a finite amount, unless they give it a big jump, then they could slash it repeatedly.

      I know you said years but the oldest link there looks like it’s late ‘22. Did you mean that one or longer than 13 months ago?

        • skydivekingair@lemmy.world
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          10 months ago

          😁 I thought about this when posting, but unlike numbers a company only has to devalue so much before it collapses. Like a stilt house and every day you remove 50% of each support beam, you’ll find the house crashes down before you have to worry about never hitting zero support beams.

      • Earthwormjim91@lemmy.world
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        10 months ago

        Can you uh, read?

        The very first result in that photo, from May, says that it was marked down three times already. This is number 4 at a minimum.