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💵 Zuck's Bucks

💵 Zuck's Bucks

Mark Zuckerberg just made more than $20 billion in one day. Plus, are "ridiculously cheap" regional banks a buying opportunity?.

Brooks Dyroff
February 02, 2024

TGIF Zingernation! Why renew my Six Flags season pass when the market’s a rollercoaster ride?

After what felt like a full week’s worth of record-highs last week, the market took a turn Wednesday when Powell’s hawkish comments led to tech’s worst day of the year. It felt like there was nowhere to go but Down, Down, Down. (Side note: Whatever happened to Jay Sean?)

But it wouldn’t be a rollercoaster if it didn’t do the loopity loop. Sure enough, we had two strong days in a row as we clickety clacked back up to all-time highs. In other words, two nights ago we took an L, but tonight we Bounced Back. (Side note: Whatever happened to Big Sean?)

Today’s Price Action:

$SPY: +1.05%
$QQQ: +1.69%
$DIA: +.34%

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

Meta’s Historic Day

Briefly: If you thought the Meta move was too much, too fast when it went up around 12% after hours yesterday, boy, do I have news for you.

So Basically: If you own Meta shares, the trend was your friend. The Facebook parent lost no steam overnight and opened around $460 a share.

So Then: The FOMO buying started, and the running of the bulls led it all the way up to nearly $490 in mid-day training.

Eventually: Investors started taking profits off the board. It retreated to around $475 a share by market close, still up more than 20%.

So What? The stock skyrocketed on good earnings, the announcement of a stock buyback, and the first dividend payout in company history.

That Said: You think $2 a year is good? CEO Mark Zuckerberg will personally make around $700 million a year off dividends from Meta’s stock.

Even Better: Meta added some $204.5 billion in market value, the biggest single-day gain of any U.S. company in history. And since Zuck has more than 300 million Meta shares, worth more than $100 billion, his net worth soared by more than $20 billion today alone. How’s that for a dividend?

What Next: Read more here.

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ONE TRADE IDEA FOR MONDAY

EXCLUSIVE: Regional Banks A Buying Opportunity Amid 'Ridiculously Cheap Valuations’

Briefly: It’s been a bad week for regional banks. Could that be a good thing?

What Happened: Regional banks saw their worst performance since the March 2023 sell-off this week.

But Still: Tim Melvin, a seasoned value investor with over three decades of experience, is undeterred in his bullish outlook on the sector.

Why Not: Despite widespread pessimism, Melvin identifies the current market conditions as ripe with opportunity for patient investors. “These stocks are ridiculously cheap, with single-digit PE ratios trading at or below book value. That is absurd,” he argued.

Why It Matters: With banks holding more capital than in recent years and interest rates stabilizing in a higher-for-longer environment, Melvin sees a clear buying opportunity for patient, aggressive investors.

What Next: Read the full breakdown here.