Elon Musk's X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity. The asset manager, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to Fidelity.
“Fidelity is currently valuing X at about $9.4 billion”
I wouldn’t be surprised if part of this remaining value is because the Japanese internet still heavily relies on it as a platform, even if the west has begun moving elsewhere.
This is the stock market, the value is set by what investors think the value could be. Mostly, they’re probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.
Just because it’s not publicly traded, doesn’t mean that there isn’t stock nor that there’s no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.
Honestly terrifying that they still think it is worth that much.
they still own the twitter trademark, that might be their biggest asset
Which has been crashed and burned to a fraction of its value.
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I wouldn’t be surprised if part of this remaining value is because the Japanese internet still heavily relies on it as a platform, even if the west has begun moving elsewhere.
I was going to say that they could have stopped the headline at “quarter” as far as I’m concerned.
This is the stock market, the value is set by what investors think the value could be. Mostly, they’re probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.
This actually isn’t the stock market, Twitter isn’t publicly traded since being bought.
Just because it’s not publicly traded, doesn’t mean that there isn’t stock nor that there’s no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.
There’s usually defined periods for sales as well. Gives employees and other stock holders a way to cash out and get new investors in.
I understand the basics. I still find it difficult to grasp why it is worth 9 billion.