Fidelity again marks down the value of Elon Musk's X

By the numbers: Fidelity now says X is worth 71.5% less than when it first helped Musk buy what was then still known as Twitter.

• This new figure is as of Jan. 31, 2024, as Fidelity reports private company valuations on a one-month lag.
• It does not track with publicly traded comps, as Snap shares fell around 4% during January and Meta shares climbed 11%.

Behind the scenes: Fidelity is an X Holdings shareholder, but doesn't necessarily receive inside information on the social media company's performance. Other shareholders may value their stock differently.