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Theres not much of a story here. The entire sector is down from the FED induced covid highs. For example, Amazon and Facebook are down 50% in the public markets
by v0idzer0 4y ago
Theres not much of a story here. The entire sector is down from the FED induced covid highs. For example, Amazon and Facebook are down 50% in the public markets. But since Twitter is now private and has no public stock price, its up to shareholders like Fidelity to guess the current value. This is their guess.
- Arainach 4y agoThis isn't down from COVID highs, it's down from the purchase price 2 months ago (2022/10/27, long after COVID highs vanished)
- deepzn 4y ago2 months ago, no one in their right mind would buy Twitter at a $44B price. No management would sign off on it. But then it was 20 million out of a 36B fund. Do the math, if it was important in their books. Likely, was just randomly purchased as part of the index, or bought as an insignificant investment.