Fidelity Marks Down Stakes in Discord, Reddit
Fidelity Investments valued its stakes in Discord and Reddit slightly lower than it had previously, according to new public disclosures reported by TechCrunch.
The asset manager marked down the value of its Discord holdings by 13% at the end of May, compared to the previous month. At the same time, it marked down its Reddit stake by about 7%. Those declines come after larger markdowns last year amid a steeper slump in public tech stocks.
Twitter, on the other hand, got better news. Fidelity marked up its stake by about 5% in May compared to April.