Fidelity marks down value of Twitter stake by 56%

Fidelity funds slashed the value of their Twitter stake by 56% in November, according to a monthly disclosure by the investment firm released on Friday, as the social media giant navigates a period of turmoil following Elon Musk’s $44 billion buyout.

Fidelity Blue Chip Growth Fund’s stake in Twitter was valued at nearly $8.63 million as of Nov. 30, compared to $19.66 million at October-end, days after Musk closed the acquisition.