The value of X (formerly Twitter) continues to circle the toilet at an impressive rate. The social media platform is now worth 79 percent less than what it was worth when Elon Musk purchased it, according to analysis by investor Fidelity.

Elon Musk’s X is worth a little more than one-fifth of the $44 billion he paid to acquire the social media platform formerly known as Twitter, according to Fidelity, the latest in a series of valuation cuts by Fidelity since Musk’s takeover in 2022.

Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity. The asset manager, which helped Musk acquire the social network formerly known as Twitter,