[markeroon]

“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-...

[93po]

"company that hates elon and has vendetta against him says bad things about elon companies"

fidelity has been shitting all over elon companies forever, and losing tons of money in the process:

https://seekingalpha.com/article/4200471-institutional-inves...

[winrid]

It just wasn't worth that much to begin with.

[dartos]

Id like to believe this is bad news for X, but selling $3B out of $40B isn’t a massive sell off.

They’re probably just recouping losses from the last few days of market nosedive

[markeroon]

I edited my link to better capture how much twitter is bleeding in terms of valuation, but you had replied in the interim. My bad!

Fair point re: selling the debt.

[greenchair]

"fidelity believes"

[devnullbrain]

You seem to have mistakenly put quotation marks around something that the linked article doesn't contain. Please allow me to fill in the correct quotation:

"Fidelity discloses what it believes is the value of its shares of X"

[miltonlost]

the opposite is "musk says". do you believe Musk over a bank?

[xcv123]

The value is purely speculative no matter which source.

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.