Saks, Stocktwits, Leadership Circle CEOs: What you need to know

As the year wraps up, Yahoo Finance sits down with CEOs across different industries to discuss a variety of topics, from the outlook for 2024 to single stocks to succession and activism.

Saks CEO Marc Metrick explains why 2024 will be “a year of two halves.” Metrick says in the “first half of the year, nothing’s going to spark the consumer, nothing’s going to get them excited.” “The first half of the year’s going to be a little tougher. And then as you move into the second half of the year, you’re going to get some of this positivity in the market… it’s going to move its way through to the consumer.“

Stocktwits CEO Rishi Khanna notes investor interest in single stocks. Some of the most viewed stocks this year on Stocktwits include Mullen (MULN), Tesla (TSLA), AMC (AMC), Nvidia (NVDA), and TMG (TRKA). “Personal interest, but also people understanding exposure to single stock names are an opportunity… to make money and make gains,” Khanna says. “Stocks and these products, move like digital products essentially. So the distribution is very much a power law… where you have the Magnificent Seven and the big guys that are up front, but the long tail of interests in names and stocks, reflect... the variety of interests of... everyday investors,” Khanna explains.

Leadership Circle CEO Bill Adams discusses succession and activism at companies. “Succession has become more important than it’s ever been,” Adams says, “organizations, businesses are getting very serious about it and that’s the first time that’s happened.” On activism, Adams notes that it “has leveled out. Now what we’re finding is that capitalism wins out.”

Key video moments:

00:00:05 - Saks CEO Marc Metrick

00:00:40 - Stocktwits CEO Rishi Khanna

00:01:20 - Leadership Circle CEO Bill Adams

Video transcript

[MUSIC PLAYING]

MARC METRICK: We at Saks, we see luxury as a long game. Luxury is here to stay. You can't move your strategy or pivot too hard just based on the near-term outlook, OK? So that being said, we have to be deliberate and very careful as we approach '24.

And I'm calling it a year of progress at Saks. But if I would have to couch it, it's going to be a year of halves. OK, I see the first year-- the first half of the year nothing's going to spark the consumer. Nothing's going to get them excited. This starts in a few weeks, right? So I think the first half of the year is going to be a little tougher. And then as you move into the second half of the year, you're going to get some of this positivity in the market. Hopefully, it stays, it's going to move its way through to the consumer.

RISHI KHANNA: I think, you know, that personal interest but also people understanding exposure to single stock names are an opportunity, right, an opportunity to make money and make gains. The interesting thing that the data shows you, stocks, since the demise of commissions, right, and commissions and trading, and so I think stocks in these products move like digital products essentially. So the distribution is very much a power law.

Like, if you look at our data, it is a perfect clean power law graph, where you have the Magnificent Seven and the big guys that are up front. But the long tail of interests in names and stocks reflect like the variety of interests of like regular, like everyday investors.

BILL ADAMS: We're finding that succession has become more important than it's ever been. And people are getting-- organizations, businesses are getting very serious about it. And that's the first time that's happened. The activism thing has leveled out. Now what we're finding is that capitalism wins out. Too many organizations, businesses got punished for it. And so it's leveled out. And there's statements or stands that are made primarily when they have to do with either mission or purpose. And it falls into what the organization believes in and is all about.