X experiences another value cut after Fidelity markdown

<img width="250" height="166" src="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-250×166.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-250×166.jpg 250w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-700×466.jpg 700w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-768×511.jpg 768w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511.jpg 1255w" sizes="(max-width: 250px) 100vw, 250px" /><p>This investment firm assisted Musk to seal the acquisition deal. Reportedly, Axios indicated a further 11% loss in value after a portfolio update for the Fidelity Blue Chip Growth Fund. X suffered a series of markdowns by Fidelity after it battled to hold onto platform advertisers.</p>
<p>After the <a href="https://www.leaprate.com/cryptocurrency/twitter-partners-with-etoro-to-allow-users-access-to-the-trading-platform/" target="_blank" rel="noopener">Twitter</a> takeover, Musk implemented a string of sudden, and often contentious, changes. These included drastic staff cuts, screening international offices, and overhauling moderation policies and verifications.</p>
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<p>According to Bloomberg, the moves did not go down well with advertisers. The 2023 financials reflected the dismal position as marketing sales for the year were only $2.5bn in comparison to previous records of $1bn per quarter.</p>
<p>Musk’s explosive reactions to the situation did not help matters. In November 2022, he profanely aired his views. In the same month, he also agreed with a post that alleged that Jewish people harbour a ‘dialectical hatred’ of white people. This elicited discontent from political circles, Tesla Inc. (TSLA) investors, and corporate biggies such as Walt Disney Co. (DIS), and Apple Inc. (AAPL).</p>
<p>These events do not paint a rosy picture for X. Although private, management decisions in this company invariably influence Musk’s other financial interests.</p>
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