Fidelity's Blue Chip Growth Fund Cuts Stake in X After Elon Musk's Purchase

By
Javier Rodriguez
1 min read

News Content

Fidelity’s Blue Chip Growth Fund made headlines by reducing the value of its stake in X by 5.7% in February, following Elon Musk's purchase of Twitter Inc. The fund, which acquired a stake in X as part of Musk's $44 billion purchase, disclosed a $5.28 million valuation of its position as of Feb. 29. This indicates a decline from the previous month's value of $5.6 million. The adjustment reflects the evolving landscape of Musk's investments and their impact on related holdings.

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