Fidelity marks up the value of Elon Musk's X
Fidelity marked up the value of its shares in X Holdings by more than 11% during the month of December, according to a new disclosure.
Why it matters: This comes after months of Fidelity markdowns for X, which the mutual fund giant helped Elon Musk buy for $44 billion when it was still known as Twitter.
By the numbers: Fidelity still holds X at around a 68% discount to its per share purchase price in the fall of 2022.
The big picture: We don't ever know what metrics Fidelity uses to revalue shares of private companies, or if it has proprietary access to nonpublic information.