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boem@lemmy.world to Technology@lemmy.worldEnglish · 2 years ago

Since Elon Musk’s Twitter purchase, firm reportedly lost 72% of its value

arstechnica.com

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Since Elon Musk’s Twitter purchase, firm reportedly lost 72% of its value

arstechnica.com

boem@lemmy.world to Technology@lemmy.worldEnglish · 2 years ago
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Fidelity cuts value of X stake, implying 72% drop since Musk paid $44 billion.
  • Monomate@lemm.ee
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    2 years ago

    If the company’s private, which means its stocks are not tradeable anymore, what’s the point in measuring the company value at this point?

    • goatsarah@thegoatery.dyndns.org
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      2 years ago

      @Monomate @boem Because he owes the banks a shedload of money which he may have to start paying back if the value drops too much.

    • sneakattack@lemmy.ca
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      2 years ago

      Because the money still comes from investors even if it’s not publicly traded.

    • silvercove@lemdro.id
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      2 years ago

      Banks who loaned Elon money hold a bunch of Twitter stock. They want to eventually cash out.

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