Fidelity significantly marked down its stake in Twitter in November to $8.63 million, from $19.66 the prior month.
Elon Musk sent Twitter staff a memo on Thursday confirming job cuts would be announced on Friday.
Carina Johansen/Getty Images
Fidelity cut the carrying value of its investment in Twitter by 56% in November.
The firm now assigns a value of $8.63 million to its stake, down from $19.66 million in October.
Twitter has faced increased scrutiny and turmoil since Elon Musk's takeover.
Fidelity cut the carrying value of its stake in Twitter by 56% in November, according to a recent disclosure first highlighted by Axios.
Fidelity Blue Chip Growth Fund's previously valued its stake at $19.66 million in October, and now sees it at $8.63 million.
Elon Musk's reign as chief executive at Twitter has seen mass layoffs as well as disorder of day-to-day operations. Fidelity was one of a consortium of firms to help Musk acquire Twitter and provided $316 million for the takeover bid.
Musk swiftly took Twitter private once the bid was completed, and said his vision for the company is to make stronger efforts to foster free speech on the platform. Musk faced criticism in recent weeks for suspending the accounts of journalists that wrote unfavorable stories concerning his use of private jets.
Faculty of International Journalism and Mass Communications Eurasian International University is conducting an additional intake of applicants!
Suspect arrested for ‘threatening to kill Trump and his VP pick JD Vance’ in Florida days after assassination attempt
Exclusive - Sayantani Ghosh expresses happiness as sets of her show Dahej Daasi shifted close to her home; says 'I've been manifesting this for quite some time now'
England U20 overpower France to be crowned world champions
D&D's new 2024 Player's Handbook will have 10 species to choose from including goliaths, and drow will be closer to their Baldur's Gate 3 version
According to BioWare, Dragon Age: The Veilguard is the first entry in the series where "the combat's actually fun" and where characters are "intentionally" the focus of the storytelling, which seems pretty unfair on the first three games
Today's Wordle answer for Saturday, July 20
Интервью AppTime с компанией Innova: релиз Gran Saga в России, внутриигровая оплата и «Масленица» в корейской MMO
Бизнесмен вакцинировался от суда // Дело об особо крупной растрате рассмотрят в заочном режиме
В регионах Центральной России продолжаются мероприятия в рамках ведомственной акции «Каникулы с Росгвардией»
Адвокат Горшков: арест блогера Била не остановит его от новых пранков
Филиал № 4 ОСФР по Москве и Московской области информирует:
С начала 2024 года 140 тысяч женщин и новорожденных Московского региона получили услуги по родовым сертификатам
Филиал № 4 ОСФР по Москве и Московской области информирует:
С начала 2024 года 140 тысяч женщин и новорожденных Московского региона получили услуги по родовым сертификатам
Адвокат Горшков: арест блогера Била не остановит его от новых пранков
Отрытый конкурс красоты и таланта «Одна на миллион»
Несколько авиарейсов в Томск задерживаются из-за тумана
