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Fidelity Cuts Its Valuation of Juul to New Low

    

Photographer: Gabby Jones/Bloomberg

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 closely held Juul fell 6.2% 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.