The Week in Numbers: troubled waters, meme stocks
STORY: From one very costly crash, to a big windfall for Donald Trump, this is the Week in Numbers.
Up to $4 billion could be the hit to insurers after a cargo ship knocked down a bridge near Baltimore port.
That’s according to one expert estimate.
It would make it the worst ever marine insurance loss, topping the previous record set when the Costa Concordia luxury liner overturned in 2012.
Over $9 billion was the value of Donald Trump’s media firm TMTG by the end of its second day trading on the Nasdaq.
Analysts say that’s an amazing number for a firm that reported little more than $3 million in revenue over the first nine months of last year.
Wealth Alliance President Eric Diton says the company behind the Truth Social network looks like a classic meme stock:
“Roughly half the country is supporting Donald Trump, and he’s got some financial difficulties, and I think there’s a lot of people out there saying ‘I’m gonna buy this stock just to help the Donald’. And they’re doing it.” [1027]
About $30 billion is how much it's costing Visa and Mastercard to settle a legal battle over the fees they charge to retailers.
The payment giants have now agreed to reduce the fees as part of a move to end lawsuits that alleged overcharging.
Over $500 million is how much sources say Adam Neumann is bidding to buy back WeWork.
He founded the office sharing firm, but was later forced out amid financial turmoil and allegations of eccentric behavior.
And 23% was the jump in shares for Krispy Kreme after it said its donuts would soon be available in McDonald’s branches across the U.S.
It could be a timely boost for the burger chain too, amid signs that a cost-of-living crunch has people cutting back on fast food.
