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Forget your credit card on your next Panera Bread run? No worries, you'll soon be able to pay with the palm of your hand.
When Rivian Automotive (NASDAQ: RIVN) went public in November 2021, it revealed that Amazon (NASDAQ: AMZN) was its largest stakeholder. At the end of 2022, Amazon still owned 17% of Rivian's Class A shares. As a result, Amazon posted an overall net loss of $2.7 billion in 2022, compared to a net profit of $33.4 billion in 2021.
Walmart's enormous scale allows it to pressure its suppliers to deliver the best prices possible to its customers. Walmart tends to enjoy a sales boost when shoppers become more cost-conscious and seek out value-priced goods. Walmart's U.S. comparable sales grew by 8.3%, while its Sam's Club comps jumped 12.2%.