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Fidelity deepens valuation cut for Reddit and Discord (techcrunch.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 1 year ago

Fidelity Blue Chip Growth Fund valued its holdings in Reddit at $15.4 million as of May 31, according to the fund’s monthly disclosure released Friday. That’s down 7.36% from $16.6 million mark at April’s closure and altogether a slide of 45.4% since its investment in August 2021. The updated share value suggests a $5.5 billion valuation for Reddit.

Let’s keep those numbers dropping!