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Fidelity cuts its valuation of Juul to new low

The Columbian
Published: December 9, 2019, 5:46pm

Fidelity Investments, an early investor in Juul Labs Inc., has further cut its valuation of the troubled e-cigarette company to $16.4 billion.

The Fidelity Blue Chip Growth Fund disclosed that the value of its shares in Juul fell 6.2 percent during October from the previous month, according to a Nov. 30 report on its website. The fund held almost two-thirds of the 4.1 million Juul shares that Fidelity reported owning on a combined basis at the end of July.

Tiger Global Management, the hedge fund run by Chase Coleman, slashed its valuation of Juul by half to $19 billion in September, according to a person with knowledge of the matter.

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