Happy Wednesday Zingernation! LeBron James is basketball’s first active billionaire. But Dwayne Wade said the big bucks haven’t changed LeBron’s ways, calling him the “cheapest player in the NBA”. Apparently LeBron doesn’t pay for cellular data, always asks for the WiFi code for WiFi and has a Pandora account… with ads.

Even renowned Egg McMuffin aficionado Warren Buffett complimented his frugality. So if LeBron’s ever taking me out to lunch at Chipotle, I’ll know not to try and order guac. Just the burrito and water cup for me.

Plus, if you’re interested in dabbling with 0DTE option trading, we’ve got you covered.

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MARKET SNAPSHOT

Yesterday: What, no more all-time highs? For a second, I thought there was nowhere to go but up. Alas, the Nasdaq fell on middling Big Tech earnings, although the Dow still closed in the green.

On Our Radar: The Fed’s first policy decision of the year drops today. We might not get a change in interest rates, but we certainly will get some Fed Speak, the perfect appetizer for another full course of earnings.

TOP STORY

Judge Voids Elon Musk’s $55-Billion Compensation Plan

Briefly: You may have lost some money on the NFL games over the weekend. But at least you didn’t lose out on $55 billion.

What Happened: Five years ago, Musk was granted one of the largest compensation plans for an executive in history: a $55 billion pay package for his role as Tesla CEO.

But Then: The package was challenged by a shareholder who said there were not proper disclosures to investors before the compensation package was approved.

What Now: The challenge succeeded, courtesy of a Delaware judge: “The defendants bore the burden of proving that the compensation plan was fair, and they failed to meet the burden.” Musk responded by tweeting, “Never incorporate your company in the state of Delaware.”

What Next: Check out the full story here.

PRESENTED BY CBOE

FIVE ZINGERS

Yes Takebacks: Match Group said gimme that back and snatched up $1 billion worth of its own shares in a stock buyback announced yesterday.

Bet On Love? This “Tayvis” thing might be getting out of hand. You can now bet on whether T Swift and Travis Kelce will get engaged at the Super Bowl.

Goin’ For A Ride: A BofA analyst thinks Uber investors will be in for a pleasant ride, raising its price target to $73 a share.

Buy One, Get Three: Like its groceries, Walmart is trying to make its stock affordable. The company announced a three-for-one split yesterday.

Here We Go Again: First you had GameStop. Then you had AMC. Now you have — well, GameStop again, but make it crypto.

ONE FOR THE ROAD

JetBlue CEO “Strongly Disagree[s] With The Court's Ruling"

Briefly: JetBlue doesn’t believe its acquisition of Spirit Airlines is beyond $SAVE-ing.

So Basically: A U.S. lower court ruling blocked the proposed $3.8 billion merger of the airlines.

So Now: JetBlue and Spirit are seeking an expedited appeal aimed at reversing the ruling.

What Now: JetBlue CEO Robin Hayes said, “We strongly disagree with the court’s ruling,” and will continue to evaluate options for the Spirit deal.

What Next: Read more here.

A MESSAGE FROM OUR PARTNERS

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If the pandemic did anything positive, it would help e-commerce explode and generate a shift in consumer habits.

This company reached record revenues with 250% YOY growth. They also have strategic relationships with Microsoft and Lenovo and distribution agreements with retail giants Walmart, Costco, BJ’s, Sam’s Club, and Amazon. Also, the company has a licensing deal with The Walt Disney Company and the ONLY Disney-licensed STEM toy of 2023.

Discover why insiders are loading up and big names like Microsoft and Disney are forming relationships.

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