Elon Musk's X gets another valuation cut from Fidelity
Elon Musk's X gets another valuation cut from Fidelity
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).
Super genius Musk
when the company was known as Twitter
It’s still known as twitter
Fun fact: 𝕏 is actually a Unicode symbol, so musk can’t trademark it
𝕏 is actually a Unicode symbol, so musk can’t trademark it
That's not true, it absolutely can be a trademark. You might be thinking of copyright - he can't copyright the current 𝕏 logo.
The rights you'd get from each protection are different and a sensible business probably would want both. Trademark protection would prevent another tech company trading as 𝕏; copyright protection for the logo would let you set terms on how it is used.
"Microsoft" is just a bunch of unicode symbols so it can't be trademarked!
🙄
You 100% missed the point here and the eye roll emoji just makes you look even worse
😬
r/angryupvote
Quick Mr.Musk, before they realize your an imbecile, find some new piece of vaporware to hype up to your stans.
I always made a joke where I said Elon would immediately call the CEO or whatever a pedo.
But the last Elon Meltdown, he did call them a pedo in under 9 hours.
Let's see how long it takes!
Xtwitter is obviously a dumpster fire, but it's Tesla that's going to disintegrate the most wealth. Does anybody really think that company is worth more than the GDP of Taiwan?
The cyber truck is an ugly joke. But the stock will hold up until there is another stylish and popular alternative.
Have you seen the cheaper cars BYD is building?
I mean, I don't even understand why Fidelity felt the need to join the buyout. I guess they own a lot of meta stock so figure they'll make up the stupidity induced losses?
Are you aware Meta stock is one of the best big tech performing stocks this year with 200% growth after the COVID bubble crash, and is just under 5% off it's ATH?
It's almost like professional businesses know what they're doing (most the time) and random Lemming/redditors know actual jack shit.
I don't think you understood my comment. I was implying that they owned enough meta stock that sinking Twitter would be a net zero situation for them if meta picked up the slack by taking twitters market share. They actually own so much they might even make a profit.
#fuckyourdividends
IIRC, Fidelity already owned a bunch of shares and managed to just hold onto them through the buyout.
I delighted in being able to show this headline to guests last night after we'd riffed on what an idiot Lonnie was a couple hours earlier. Lonnie-boy just keeps delivering. When he fucks up his fortune and lives in shame and disgrace I'll be happy. Until then, I don't want to hear about his every dumb post. But news of his company's failure can continue. Please proceed.
Fidelity has been marking down Twitter/X for years now.
Forget the new years, when will this end?
A whole 2 times eh?
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.
I will give him a 2 dollar bill and half a chicken wing for it.
Don't give up your valuable half a chicken wing for something stupid and pointless like Twitter.
There's still plenty meat on that bone.You take this home, throw it in a pot, add some broth, a potato... baby you got a stew going!
i think his brain interface already works, and he already had them installed in the heads of everyone who backed that deal
Elon Musk is going to crash the entire economy by himself and it's going to be hilarious.