Twitter investor writes down stake by 47% as analyst claims Threads user fall

Elon Musk has said advertising has plunged on his social media platform and it is cashflow negative

An investor in Elon Musk’s Twitter has written down their stake in the business by 47% as advertisers rein in their spending on the social media platform.

The move by ARK Investment Management came as an analysis firm claimed that usage of the “Twitter killer” Threads app has fallen by half since its launch by Mark Zuckerberg’s Meta.