Fidelity Fund Raises Value of Stake in Musk’s X by 4.4% in April

Bloomberg05-30

Fund has cut value of its position by 72% since 2022 takeoverThe social media network has struggled to win back advertisersThe X website.Fidelity’s Blue Chip Growth Fund raised the value of its ...

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HammerRegarded
05-31
HammerRegarded
Why? Xitter is horrible now.

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Xitter is horrible now.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/311557500317960","repostId":2439041647,"repostType":2,"repost":{"id":"2439041647","pubTimestamp":1717079400,"share":"https://ttm.financial/m/news/2439041647?lang=&edition=fundamental","pubTime":"2024-05-30 22:30","market":"us","language":"en","title":"Fidelity Fund Raises Value of Stake in Musk’s X by 4.4% in April","url":"https://stock-news.laohu8.com/highlight/detail?id=2439041647","media":"Bloomberg","summary":"Fund has cut value of its position by 72% since 2022 takeoverThe social media network has struggled to win back advertisersThe X website.Fidelity’s Blue Chip Growth Fund raised the value of its positi","content":"<html><head></head><body><ul style=\"\"><li><p>Fund has cut value of its position by 72% since 2022 takeover</p></li><li><p>The social media network has struggled to win back advertisers</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/21a3c67869171e1d334eb4b87d910cf4\" alt=\"The X website.\" title=\"The X website.\" tg-width=\"2000\" tg-height=\"1333\"/><span>The X website.</span></p><p style=\"text-align: start;\">Fidelity’s Blue Chip Growth Fund raised the value of its position in Elon Musk’s X by 4.4% in April.</p><p style=\"text-align: start;\">Fidelity, which gained its stake by helping Musk complete his $44 billion purchase of what was then known as Twitter, valued its position at $5.51 million as of April 30, according to a report released Thursday. That was up from $5.28 million at the end of March.</p><p style=\"text-align: start;\">The Fidelity fund’s monthly accounting of its stake is the best publicly available indication of X’s value now that the company is privately held. Since Musk’s takeover of Twitter in October 2022, the position has been marked down by about 72%, which suggests a similar drop in the worth of the company given the fund hasn’t disclosed any change in its position in X.</p><p style=\"text-align: start;\">X has struggled to lure back advertisers since Musk’s chaotic takeover. Last year, ad sales were estimated to be roughly $2.5 billion, falling short of the company’s $3 billion target, Bloomberg reported.</p><p style=\"text-align: start;\">Musk’s stake in X is worth more than $7 billion, according to the Bloomberg Billionaires Index. It makes up a fraction of his $202.1 billion net worth.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fidelity Fund Raises Value of Stake in Musk’s X by 4.4% in April</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFidelity Fund Raises Value of Stake in Musk’s X by 4.4% in April\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-30 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-05-30/fidelity-fund-raises-value-of-stake-in-musk-s-x-by-4-4-in-april?srnd=homepage-americas><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fund has cut value of its position by 72% since 2022 takeoverThe social media network has struggled to win back advertisersThe X website.Fidelity’s Blue Chip Growth Fund raised the value of its ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-05-30/fidelity-fund-raises-value-of-stake-in-musk-s-x-by-4-4-in-april?srnd=homepage-americas\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2024-05-30/fidelity-fund-raises-value-of-stake-in-musk-s-x-by-4-4-in-april?srnd=homepage-americas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2439041647","content_text":"Fund has cut value of its position by 72% since 2022 takeoverThe social media network has struggled to win back advertisersThe X website.Fidelity’s Blue Chip Growth Fund raised the value of its position in Elon Musk’s X by 4.4% in April.Fidelity, which gained its stake by helping Musk complete his $44 billion purchase of what was then known as Twitter, valued its position at $5.51 million as of April 30, according to a report released Thursday. That was up from $5.28 million at the end of March.The Fidelity fund’s monthly accounting of its stake is the best publicly available indication of X’s value now that the company is privately held. Since Musk’s takeover of Twitter in October 2022, the position has been marked down by about 72%, which suggests a similar drop in the worth of the company given the fund hasn’t disclosed any change in its position in X.X has struggled to lure back advertisers since Musk’s chaotic takeover. Last year, ad sales were estimated to be roughly $2.5 billion, falling short of the company’s $3 billion target, Bloomberg reported.Musk’s stake in X is worth more than $7 billion, according to the Bloomberg Billionaires Index. 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