A major investment company called Fidelity just slashed the value of its Twitter holdings by a big chunk (5.7% in February) and it’s even lower now than when Elon Musk bought Twitter back in October. In total, they say Twitter’s worth has dropped a whopping 73%!
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Why the Drop? We Don’t Know for Sure
Fidelity hasn’t explained exactly why they think Twitter is worth less, but there could be a few reasons:
- Tech Market Wobble: Maybe the whole tech industry is just doing poorly right now, bringing Twitter down with it.
- Bumpy Takeover Ride: Perhaps integrating Twitter into Musk’s plans is proving trickier than expected, making investors nervous.
- Fewer Users? It’s possible some people left Twitter after the big changes, hurting its potential income.
Looking Ahead: New Chatbot on the Horizon
Despite the value drop, Elon Musk seems focused on the future. He recently announced a new, super-smart chatbot called Grok-1.5 coming to Twitter next week, with even more advanced versions planned. This could attract new users interested in the latest AI tech.
Should You Invest?
It’s too early to say if Twitter’s value will continue to drop or bounce back. People looking to invest will likely be watching closely to see how things go with the new chatbot and other developments.
