Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
Xtwitter is obviously a dumpster fire, but it’s Tesla that’s going to disintegrate the most wealth. Does anybody really think that company is worth more than the GDP of Taiwan?
The cyber truck is an ugly joke. But the stock will hold up until there is another stylish and popular alternative.
Uh, the Rivian and F-150 Lightning started deliveries years before the cyber truck. Both sell like crazy.
Yes but neither company has a competitor to the Model S, Y, or 3, which I believe are far and away the most popular models. Until there is legit competition in that space, Tesla will probably remain stable. More companies are getting there but it’s been very slow going.
Mach-e much?
Have you seen the cheaper cars BYD is building?
https://motowheeler.com/us/electric-cars/byd/