ARK Invest, led by Cathie Wood, has reportedly reduced the valuation of its Twitter stake by 47% since the company was taken private by Elon Musk last year. Despite the write-down, Wood remains optimistic about Twitter’s long-term prospects.
Twitter, now a private entity, is grappling with a substantial debt burden and a significant decline in advertising revenue following Musk’s $44-billion leveraged buyout, the Wall Street Journal reported Monday.
