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Fidelity marks down X valuation by 71.5% (techcrunch.com)

submitted 10 months ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 11 points 10 months ago* (last edited 10 months ago) (3 children)

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.

[–] [email protected] 5 points 10 months ago

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.

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