Fidelity cuts off its Twitter stake value by 56% as Elon Musk-owned microblogging site faces challenges
Image Credit: shortpedia
Top global investment firm Fidelity has slashed the value of its stake in Twitter by 56 per cent during the first month of Elon Musks ownership, as the micro-blogging platform navigates through a myriad of issues. Fidelity's Contrafund valued its Twitter shares at $53.47 million on October 31, just days after Musk's $44 billion acquisition deal was closed, reports Axios.