Twitter sees 47% stake write-down as Threads usage drops

  • ARK Investment Management has written down their stake in Twitter by 47%, following a significant reduction in spending by advertisers.
  • Despite this, ARK CEO Cathie Wood remains bullish about Twitter’s long-term return on investment.
  • Simultaneously, usage of Twitter rival, Threads, has reportedly fallen by half since its launch by Meta CEO Mark Zuckerberg.
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