[Twitter] Elon Musk's X gets another valuation cut from Fidelity
[Twitter] Elon Musk's X gets another valuation cut from Fidelity
Fidelity is one of the few companies who is publicly estimating the value of Twitter.
Fidelity is an owner of Twitter equity (one of the groups who kept their shares after Elon Musk bought the rest of the company). Since Fidelity is a financial firm, they try to estimate the value of their holdings.
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).
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Morgan Stanley leads the coalition of banks that owns the $13 Billion of Twitter debt. So different bank really (other owners of debt: Bank of America and Barclays).
Banks don't want to own Twitter. They just want their debts paid on time and possibly,
to dump the Twitter bonds onto other peopleI mean provide solid investing opportunities to their most established customers looking to diversify into social media.Fidelity is in a pickle here for sure. Well, not really. A $Billion loss like this isn't a big deal to any modern bank, but it would be embarrassing to the executives in charge of keeping TSLA equity in this decision.
Mr Musky Smell, like Mr Trumpet is possibly too big to allow to be allowed to fail.
You sound like a toddler.
It's British humour. I guess it might not travel very well.