An investment management firm has dropped its valuation of the world's second-largest social media platform after Elon Musk took to its helm. 2VIEW GALLERY - 2 IMAGESA new report from The Wall Street Journal has detailed a new marked-down valuation by Art Invest, an investment management firm based in Florida, that reduced its valuation of Twitter by 47%. "We take fair valuation very seriously and absolutely have had to write that [Twitter] down. It should be noted that Ark Invest currently owns a small stake in Twitter at approximately 2.4%, as of June 30. Furthermore, Woods says that despite the investment firm's valuation, she is still very bullish about Twitter, as she and the firm believe in Musk's plan to turn Twitter into an "everything app".

Source: Wall Street Journal July 18, 2023 07:01 UTC