Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over

Mon, 07/17/2023 - 15:38

An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration. — Elon Musk acquired Twitter on October 27.
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Ark Invest has marked down its Twitter valuation by 47% since it was taken over by Elon Musk, the Wall Street Journal reported.
Musk had recently tweeted that Twitter's advertising revenue has been cut in half since he took over the company.
Despite the steep writedown, Ark CEO Cathie Wood said she is still bullish on the company.

Ark Invest has marked down its valuation of Twitter by 47% since Elon Musk took over the company, but CEO Cathie Wood is still bullish on the company.