The downward spiral continues for X, formerly known as Twitter, with a new valuation from Fidelity’s Blue Chip Growth Fund estimating its shares at $5.3 million, down from $6.3 million in October. This figure is a far cry from the $19.66 million valuation reported just before Elon Musk‘s takeover in October 2022. Related: Elon Musk Takes Over Twitter: Who’s In Charge, Who’s Gone And What Happens To The Stock? Fidelity’s consistent markdowns since Musk’s buyout raise questions about the platform’s resilience under its new ownership. X’s Valuation: Potentially Down 72% Since Musk Took OverIntern…