Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.
Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.
As a Fidelity customer who uses their index funds, I would like to know which managers approved this fuckup on their part so I know who to blame when I move to Vanguard over the course of the year. Morningstar needs to take a mallet to their ratings over this.
It’s not their play money they fucked with – ITS MINE.
In their defence, it was a relatively small investment of only $19m. I guess the story is that this must be an indication of how other, larger, investors might also be looking at X.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !technology@lemmy.world
This is a most excellent place for technology news and articles.
English
I mean this is just ridiculous. He bough twitter for twice what it was actually worth fmv. He’s since gutted it infrastructural and culturally.
If it went public today under his leadership, there is no way it would be worth even 5% of its prior value.
When can we expect a lawsuit against Fidelity for saying bad things about “X” and how Musky destroyed it?
deleted by creator
71.5% so far
This is not about Technology.
Shit’s near worthless.
Oh no, Anyway.
As a Fidelity customer who uses their index funds, I would like to know which managers approved this fuckup on their part so I know who to blame when I move to Vanguard over the course of the year. Morningstar needs to take a mallet to their ratings over this.
It’s not their play money they fucked with – ITS MINE.
In their defence, it was a relatively small investment of only $19m. I guess the story is that this must be an indication of how other, larger, investors might also be looking at X.