Saks Global said on Friday that its CEO, Marc Metrick, has stepped down and named executive chair, Richard Baker, as his successor, amid reports that the luxury retailer is preparing for bankruptcy. The change at the top comes days after the Wall Street Journal reported that the Neiman Marcus parent company is preparing for bankruptcy after missing an interest payment exceeding $100m on debt from its Neiman merger.
If you missed out on the multi-decade returns of Tesla ( NASDAQ:TSLA) stock, maybe you'll get a second chance with electric vehicle (EV) manufacturer Rivian Automotive ( NASDAQ:RIVN). For the next four to five years, some loyal RIVN stockholders hope to achieve Tesla-like growth. In the most optimistic scenario, Rivian stock would stage a spectacular comeback and rally to $50 by 2030. However, in a more pessimistic scenario, Rivian could run out of money next year and file for bankruptcy. No one knows for sure whether RIVN stock will become a hero or a zero by 2030. Still, you could have a huge winner on your hands with a share position in Rivian, so let's see what's under the hood with this fascinating EV producer.
Luminar faces potential bankruptcy as Volvo backs off its promise to make lidar standard in its flagship models. Volvo blamed "limited supply of the lidar hardware." Luminar has already warned investors that it may run out of cash by the end of Q1 2026. Not long ago, Volvo and Luminar seemed like the perfect partnership. The Swedish automaker pushed a safety-first approach that used the startup's laser-based sensors to ensure its vehicles were safer than ever.
