X’s value continues to plummet, with the social media platform worth a mere $12.5 billion, or 71% less than Elon Musk paid for it just over a year ago.

Fidelity marked down the value of its shares in the social media company, according to Axios and Mashable. The mark-down is no the first for Fidelity, but does mark a new low for X’s value.

Much of the blame for X’s misfortune lie squarely at the feet of Musk. The mercurial tech icon has alienated advertisers, with many fleeing the platform after his controversial posts and statements. What’s more, there have been reports of pro-Nazi content appearing next to advertising from some of the world’s biggest brands, causing yet another mass exodus from the platform.