Twitter valuation plunges under Musk as advertisers flee and growth strategy fails

Fidelity lowered its valuation of Twitter stock for the third time, saying the company is now worth one-third what Elon Musk paid for it.
Musk's scattershot growth attempts have failed to gain traction while alienating users and advertisers.
Twitter has become a platform for racist, hateful, and misleading content under Musk's leadership.
Revenue has dried up, forcing Twitter to sell ads through a third party.
Musk named a new CEO to address the issues, but problems persist.