“The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity.”
https://www.cnn.com/2024/10/02/business/elon-musk-twitter-x-...
https://www.cnn.com/2024/10/02/business/elon-musk-twitter-x-...
fidelity has been shitting all over elon companies forever, and losing tons of money in the process:
https://seekingalpha.com/article/4200471-institutional-inves...
They’re probably just recouping losses from the last few days of market nosedive
Fair point re: selling the debt.
It’s only worth what a buyer is willing to pay for it.
The company is now private and has no stock price. It’s not for sale.
It mostly has the same user base today so the value to an interested buyer is probably not much different to what it was before the sale.
"Fidelity discloses what it believes is the value of its shares of X"