- 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.
That’s according to a Monday report from The Wall Street Journal. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company’s current valuation at about $23 billion, based on Ark’s estimate.
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