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).

  • Somewhereunknown7351
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    601 year ago

    when the company was known as Twitter

    It’s still known as twitter

    Fun fact: 𝕏 is actually a Unicode symbol, so musk can’t trademark it

    • @[email protected]
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      431 year ago

      𝕏 is actually a Unicode symbol, so musk can’t trademark it

      That’s not true, it absolutely can be a trademark. You might be thinking of copyright - he can’t copyright the current 𝕏 logo.

      The rights you’d get from each protection are different and a sensible business probably would want both. Trademark protection would prevent another tech company trading as 𝕏; copyright protection for the logo would let you set terms on how it is used.

      • @[email protected]
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        151 year ago

        So in this case, I cannot open a company called 𝕏 that uses social media to share elons flights, but I could open a company called Elon Tracker and use the logo 𝕏?

        • @[email protected]
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          151 year ago

          Yes, but if Elon opened a fledgling company to track himself with 𝕏 money, he’d have a great arguement to take the name from you and do nothing with it.

        • @[email protected]
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          11 year ago

          No, those are both trademarks, you’re associating 𝕏 with your tech business (to the extent that Elon Tracker is a tech business).

          But if you start a plumbing business you can call it 𝕏, because trademarks are industry-specific.

          You might be able to get away with starting a business called XYZ and putting 𝕏 symbols all over your website as long as it obviously isn’t your logo.

          Or you can publish images of people doing unspeakable things with the 𝕏 logo. As long as you are not claiming to be 𝕏, you can use the 𝕏 glyph however you like.

          This is not true of the bird logo. You aren’t by default allowed to reproduce it, so the company can allow you to, with extra conditions of their choosing. They can make you take down images of people doing unspeakable things with the bird logo, on the basis that it contravenes their terms and therefore is not covered by the license.

  • @[email protected]
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    461 year ago

    Quick Mr.Musk, before they realize your an imbecile, find some new piece of vaporware to hype up to your stans.

      • @[email protected]
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        31 year ago

        I’m pretty sure he said “We dug our own grave with Cybertruck”, not Twitter.

        I think he said that “Earth will know Advertisers are to blame for Twitter’s downfall”, or something to that effect. You know, the more ridiculous quote.

        • @[email protected]
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          21 year ago

          That’s correct, I was harkening esteemed musk critic Thunderf00t, who purposely changes the quote depending on the specific subject of his videos.

  • @[email protected]
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    351 year ago

    I always made a joke where I said Elon would immediately call the CEO or whatever a pedo.

    But the last Elon Meltdown, he did call them a pedo in under 9 hours.

    Let’s see how long it takes!

  • @[email protected]
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    311 year ago

    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?

  • roguetrick
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    241 year ago

    I mean, I don’t even understand why Fidelity felt the need to join the buyout. I guess they own a lot of meta stock so figure they’ll make up the stupidity induced losses?

    • @[email protected]
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      21 year ago

      Are you aware Meta stock is one of the best big tech performing stocks this year with 200% growth after the COVID bubble crash, and is just under 5% off it’s ATH?

      It’s almost like professional businesses know what they’re doing (most the time) and random Lemming/redditors know actual jack shit.

      • roguetrick
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        1 year ago

        I don’t think you understood my comment. I was implying that they owned enough meta stock that sinking Twitter would be a net zero situation for them if meta picked up the slack by taking twitters market share. They actually own so much they might even make a profit.

    • @[email protected]
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      11 year ago

      IIRC, Fidelity already owned a bunch of shares and managed to just hold onto them through the buyout.

    • @[email protected]
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      431 year ago

      Well there’s a finite amount, unless they give it a big jump, then they could slash it repeatedly.

      I know you said years but the oldest link there looks like it’s late ‘22. Did you mean that one or longer than 13 months ago?

        • @[email protected]
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          41 year ago

          😁 I thought about this when posting, but unlike numbers a company only has to devalue so much before it collapses. Like a stilt house and every day you remove 50% of each support beam, you’ll find the house crashes down before you have to worry about never hitting zero support beams.

      • @[email protected]
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        -11 year ago

        Can you uh, read?

        The very first result in that photo, from May, says that it was marked down three times already. This is number 4 at a minimum.

    • Flying Squid
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      51 year ago

      Don’t give up your valuable half a chicken wing for something stupid and pointless like Twitter.

      • @[email protected]
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        51 year ago

        There’s still plenty meat on that bone.You take this home, throw it in a pot, add some broth, a potato… baby you got a stew going!

  • theodewere
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    41 year ago

    i think his brain interface already works, and he already had them installed in the heads of everyone who backed that deal