The price of X (formerly Twitter) continues to fall at an impressive rate. The social networking platform is now worth 79 percent less than it was when Elon Musk bought it, according to analysis of the Fidelity financial platform.
The financial platform knows what it's talking about, as it helped Musk acquire X in 2022 and owns a stake in the company.
Fidelity's initial investment, according to TechCrunch, was $19,66 million. Fidelity's latest financial report reports the value of its stake in X at $4.185.614.
That's a reduction of 79 percent.
Meanwhile, a new report suggests that advertisers — who were already abandoning Musk's platform in droves — plan to spend even less on X in 2025.
