X's Value Plummets 71.5% Since Musk's Purchase

Fidelity Marks Down its Investment Amid Controversies and Advertiser Departures

Elon Musk's purchase of Twitter, now known as X, has seen a significant drop in value, with Fidelity marking down its investment by 71.5%.
Musk's controversial actions, including reinstating suspended accounts and endorsing an antisemitic post, have been cited as contributing factors to the platform's decline.
Major advertisers such as Walmart, IBM, and NBCUniversal have left the platform due to concerns about hate speech.
Fidelity's latest valuation puts X's worth at just $12.5 billion, a steep drop from the $44 billion Musk paid for it.
Despite Musk's and Linda Yaccarino's claims of turning the company around, the financial situation appears to remain dire.