That of loyalty Blue Chip Growth Fund cut the value of its position in X by 5.7% in February, implying a 73% decline in the former Twitter Inc. since Elon Musk bought the social media company.
Fidelity, which acquired a stake in of the fund. A month earlier, the value was $5.6 million.
Read more: Banks stuck with X debt held refinancing talks with Elon Musk
The overall value of the Blue Chip Growth Fund’s
X has been trying to lure advertisers back after Musk’s chaotic takeover. Last year, ad sales were estimated at about $2.5 billion, well below the company’s $3 billion goal, Bloomberg reported.
Fidelity and X did not immediately respond to emails seeking comment sent outside normal business hours.
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