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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 months ago by [email protected] to c/[email protected]

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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] [email protected] -2 points 2 months 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.

[–] [email protected] 21 points 2 months ago (1 children)

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

[–] [email protected] 3 points 2 months ago (1 children)

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.

[–] [email protected] 2 points 2 months ago

There's usually defined periods for sales as well. Gives employees and other stock holders a way to cash out and get new investors in.

[–] [email protected] 3 points 2 months ago

I understand the basics. I still find it difficult to grasp why it is worth 9 billion.