Elon Musk's acquisition of X (formerly Twitter) has led to a staggering 78.7% reduction in its valuation, now standing at only $9.4 billion.
In October 2023, Fidelity reported that X's value saw significant decreases over the past year, marking it down by nearly 80% from its peak.
The withdrawal of major advertisers such as Apple and Disney followed a controversial incident, further highlighting the trust issues surrounding X's advertising platform.
Despite efforts to stabilize the platform, the perception of advertising on X remains low compared to its competitors, leading to cuts in marketing budgets.
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