Cathie Wood's Valuation Cut Sends Shockwaves Through Musk and Twitter

Cathie Wood's Ark Invest has reduced its valuation for Twitter by nearly 50%, now valuing the social media company at around $25 billion, citing increased competition from Meta's Threads as a possible factor. Wood remains bullish on Twitter, believing that Twitter and Threads can coexist and that Threads has ignited a competitive fire at Twitter. Wood expressed interest in buying more equity in Twitter but has been unable to find a seller. Elon Musk's vision for turning Twitter into an "everything app" is taken seriously by Wood, despite the decline in ad revenue and heavy debt load faced by Twitter.