Fidelity Devalues Twitter Stake Amid Elon Musk Controversies

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According to monthly disclosure by Fidelity, the value of their Twitter stake was slashed by 56% in November.

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Fidelity Blue Chip Growth Fund's stake in Twitter was valued $19.66 million at the end of October whereas it is about $8.63 million as of November 30.

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Fidelity is one of the investors behind Elon’s Twitter acquisition deal, providing more than $316 million.

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After Elon Musk’s Twitter takeover, the micro-blogging site is going through a period of turmoil.

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Musk’s Twitter tenure has been chaotic amid advertiser outflows and massive layoffs.

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Since Elon Musk bought Twitter, Tesla shares have lost nearly 50%.

Much of the blame of Tesla’s poor performance has been pointed to Elon Musk’s involvement with Twitter.

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