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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)
submitted 2 years ago by to c/technology@lemmy.world
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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] -2 points 2 years ago (2 children)

This is the stock market, the value is set by what investors think the value could be. Mostly, they're probably assuming people would come back if he sold it. Literally everyone knows the name Twitter.

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  • [–] 21 points 2 years ago (1 child)

    This actually isn't the stock market, Twitter isn't publicly traded since being bought.

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  • [–] 3 points 2 years ago (1 child)

    Just because it's not publicly traded, doesn't mean that there isn't stock nor that there's no market. Usually, you can technically still buy/sell the stock, just not as a random member of the public on a public stock exchange like the NYSE or FTSE.

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