12:00 - 1.11.2023

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November 1, Fineko/abc.az. The market value of Platform X has fallen sharply compared with the same term of 2022.

ABC.AZ reports that the market capitalization of X in the 3rd quarter of last year was $44 billion. During the same period of this year, the market capitalization of the social media platform fell to $19 billion.

American businessman Elon Musk bought X on October 27, 2022 for $44 billion.

In an internal memo to X employees, he noted that the company's value is $19 billion.

X announced in September that after Elon Musk bought the platform, advertising revenue dropped by 60%.