Fidelity Increases Valuation On X After Twitter Name Change: Here's How Much The Social Media Platform Is Worth
Portfolio Pulse from Chris Katje
Fidelity has increased its valuation of X Holdings (formerly Twitter) for two consecutive months, valuing the company at $27 billion in June, up from $15 billion in May. This comes after Elon Musk's acquisition of Twitter for $44 billion, funded in part by selling Tesla shares. Fidelity holds a stake in X Holdings through its Blue Chip Growth Fund (FBGRX). Other investors, including Ark Funds, have also increased their valuations of X Holdings.
August 04, 2023 | 10:14 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Elon Musk sold a portion of his Tesla shares to fund the acquisition of Twitter. This could potentially impact Tesla's stock price.
The sale of Tesla shares by Elon Musk to fund the acquisition of Twitter could potentially lead to a decrease in Tesla's stock price due to the reduced stake of a key investor.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 60
NEUTRAL IMPACT
Meta Platforms launched Threads and saw increased share prices in May and June. However, the impact of Threads and Twitter's rebranding to X on Meta's valuation is yet to be seen.
While Meta Platforms saw increased share prices in May and June, the impact of the launch of Threads and Twitter's rebranding to X on Meta's valuation is uncertain.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
Fidelity's Blue Chip Growth Fund (FBGRX), which holds a stake in X Holdings, may see increased interest due to the raised valuation.
The raised valuation of X Holdings by Fidelity could attract more investors to FBGRX, which holds a stake in X Holdings. This could potentially increase the fund's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Snap Inc's share prices increased during the months of May and June, which could be a positive sign for the company's short-term performance.
The increase in Snap Inc's share prices during May and June could indicate a positive short-term performance for the company's stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50