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Fidelity Contrafund Cuts Value Of WeWork Stake By 35%

TedTed
in The Bullpen
FYI: Fidelity Investments cut the value of Contrafund’s stake in WeWork Companies Inc by 35% in September amid turmoil surrounding the office-sharing startup’s failed initial public offering (IPO).

Fidelity disclosed on Wednesday that Contrafund (FCNTX.O) held $193.1 million in Series E WeWork shares at the end of September, down from $295.1 million the previous month. The valuation cut assumes no shares were bought, sold or transferred between the two periods.
Regards,
Ted
https://www.reuters.com/article/us-funds-fidelity-wework/fidelity-contrafund-cuts-value-of-wework-stake-by-35-idUSKBN1X91OK
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