In the corporate world, whenever you see something like an organization drop in value, it’s a clear sign of how things are going south and not in its best interest.
A recent report by Fidelity is shedding light on the market value of Twitter and how it was down by a massive 33% when compared to the original cost. And it does not take any rocket scientist to imagine how such purchases aren’t the wisest of decisions.
A recent report by Reuters mentioned how the stake of Fidelity in Twitter saw a figure of $6.5 million and that’s in accordance with stats from April 28. Now when you compare it with the end of January of this year, it was $7.8 million and then at the end of November of last year, it was $8.6 million.
So when you sit down and look at the bigger picture, Elon Musk purchased the firm at $44 billion when looking at October of last year. If indeed the facts of Fidelity are right and the firm’s estimate dropped to a figure that was a third of the initial value considered Musk’s company is not doing great. It’s losing a lot of funds and that too very fast.
It’s a mega implosion and one that has arisen thanks to a series of very bad calls. For starters, the Blue Tick did not go down well and it wouldn’t be wrong to call it anything more than a simple trial.
Those paying $8 for posts that are of longer duration and getting more verification for it just does not seem to be too enticing anymore. Experts claim they are not too adamant about what can be saved from the platform at this moment in time as things are really going downhill. Whatever the case may be, we feel some things might be required as additions to turn the company around and make that into something that’s super compelling.
Meanwhile, another major issue has to do with taking several steps being taken in the backward direction by Musk including his support for presidential candidate Ron DeSantis that went public across Twitter Spaces.
Not only did the domain end up crashing with servers going berserk but the engineers could not handle the matter and they didn’t have the right plan in place.
Read next: Nvidia’s Hardwork In The AI Sector Pays Off As Shares Boom And Networth Skyrockets To $1 Trillion
A recent report by Fidelity is shedding light on the market value of Twitter and how it was down by a massive 33% when compared to the original cost. And it does not take any rocket scientist to imagine how such purchases aren’t the wisest of decisions.
A recent report by Reuters mentioned how the stake of Fidelity in Twitter saw a figure of $6.5 million and that’s in accordance with stats from April 28. Now when you compare it with the end of January of this year, it was $7.8 million and then at the end of November of last year, it was $8.6 million.
So when you sit down and look at the bigger picture, Elon Musk purchased the firm at $44 billion when looking at October of last year. If indeed the facts of Fidelity are right and the firm’s estimate dropped to a figure that was a third of the initial value considered Musk’s company is not doing great. It’s losing a lot of funds and that too very fast.
It’s a mega implosion and one that has arisen thanks to a series of very bad calls. For starters, the Blue Tick did not go down well and it wouldn’t be wrong to call it anything more than a simple trial.
Those paying $8 for posts that are of longer duration and getting more verification for it just does not seem to be too enticing anymore. Experts claim they are not too adamant about what can be saved from the platform at this moment in time as things are really going downhill. Whatever the case may be, we feel some things might be required as additions to turn the company around and make that into something that’s super compelling.
Meanwhile, another major issue has to do with taking several steps being taken in the backward direction by Musk including his support for presidential candidate Ron DeSantis that went public across Twitter Spaces.
Not only did the domain end up crashing with servers going berserk but the engineers could not handle the matter and they didn’t have the right plan in place.
Read next: Nvidia’s Hardwork In The AI Sector Pays Off As Shares Boom And Networth Skyrockets To $1 Trillion
