Fidelity Cuts X Valuation by 79% Following Musk's Acquisition
Monday, 30 September 2024, 22:23
Major Valuation Cut by Fidelity
Fidelity has publicly announced a drastic reduction of its valuation for X, formerly Twitter, by an astonishing 79%. This decision follows Elon Musk's acquisition of the platform and raises significant concerns regarding its future prospects.
Implications for Investors
- The decrease in valuation could shake investor confidence.
- Such a large cut may impact investment strategies related to social media stocks.
- Markets might see an adjustment as analysts forecast the continuing effects.
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