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.
