X, after a year of Musk, Twitter has lost more than 70 percent of its value

The decline, constant and dizzying, includes a reduction of 10.7% in the month of November alone

Fidelity, the mutual fund giant, has again reduced the value of its shares in X Holdings, the company formerly called Twitter that was bought by Elon Musk for $44 billion. According to a recent statement covering the period to the end of November 2023, Fidelity estimates that X is worth 71.5% less than at the time of purchase. The downgrade includes a 10.7% reduction in November alone, during which Musk responded to advertisers boycotting X with loud insults during an onstage interview with the New York Times. To give a sense of the context in the public stock market, Meta shares rose 4.9% in November, while Snap shares rose 38.2%. Fidelity began reducing the value of its shares in Twitter within the first month after Musk's acquisition. However, in the first months of 2023, the value of the shares increased or remained stable.