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A Twitter investor more than halved the value of his shares

A Twitter investor more than halved the value of his shares

American company devotion He increased the value of his stake in Twitter in November 56 percent An order of magnitude lower than in October. Fidelity was among a group of investors Elon Musk He helped fund his $44 billion acquisition of Twitter. Transfer financial service provider 316 million dollars Ready.

Fidelity Blue Chip Growth Fund’s Twitter stake has been valued around 8.63 million Estimated in US dollars. At the end of October the value was still at $19.66 million.

Advertisers are leaving Twitter

The reinstatement of the account comes amid a difficult time for Twitter. For the most part, difficulties arise due to bad management decisions. In addition, many advertisers said goodbye to Twitter.

According to a report before The media is important to America It is estimated that half of the top 100 Twitter advertisers will no longer advertise on the site. They were together around 2022 750 million dollars on Twitter Ads.

Save $500

In general, the network has recently become less stable on a technical level. Last Wednesday there were failures. Musk has previously made changes to the back-end server architecture.

Besides, Twitter recently fired several employees and dissolved the team responsible for content moderation and human rights-related topics such as preventing homicides. In addition, the company now has regulators on its hands after several high-profile journalists’ accounts on the platform were first suspended and then restored.

Musk is said to have been in recent weeks According to TechCrunch Try, 500 million dollars to save costs. Among other things, he shut down a data center and closed the Seattle office. Some employees even take their own toilet paper to the office.

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