The value of the social media platform formerly known as Twitter, now rebranded as ‘X’ by Elon Musk, has decreased by 71% since Musk’s acquisition. Fidelity, a mutual fund that owns a stake in X, marked down the share value significantly. This decline followed Musk’s actions like firing 80% of employees, changing the brand, and modifying the blue tick verification process. The platform faced user decline, an increase in hate speech, and advertiser withdrawal, impacting its valuation and reputation.

elonmusk #twitter #technologynews #investing

Leave a Reply

Your email address will not be published. Required fields are marked *