Key Takeaways
- Walmart shares are scheduled to start trading on the Nasdaq on Dec. 9 after years on the New York Stock Exchange.
- The move comes as Walmart is emphasizing how big of a role technology and AI play in the business.
Walmart is joining a stock exchange with a well-known tech focus as its digital sales skyrocket.
Walmart (WMT) is leaving the New York Stock Exchange for the Nasdaq, where it expects its shares to begin trading Dec. 9, the company said Thursday. The shares will keep the “WMT” ticker symbol after the move.
A Reuters report said the change represented the largest-ever company switch by market value. The NYSE didn’t respond to Investopedia’s request for comment in time for publication.
The Nasdaq—already home to companies like Alphabet (GOOG, GOOGL), Amazon (AMZN) and Meta (META)—aligns with Walmart’s “people-led, tech-powered approach,” CFO John Rainey said. He and other company execs talked up Walmart’s tech abilities on a conference call Thursday, saying e-commerce, automated fulfillment centers and AI-powered outreach are fueling Walmart’s growth.
Why This News Matters for Investors
Companies’ shares have benefited at times from associations with the latest technological trends, with the dotcom era one example—and today’s AI-powered era another. Walmart is seeking to update its image with its move to the Nasdaq stock exchange.
“Walmart is setting a new standard for omnichannel retail by integrating automation and AI to build smarter, faster and more connected experiences for customers,” Rainey said, according to a transcript made available by AlphaSense.
Walmart isn’t the only company emphasizing its digital capabilities as tech giants’ stock prices have risen. Target (TGT) designers and marketers are asking AI to identify trends. Delta Air Lines (DAL) has used AI to set prices. Even restaurants, such as Wingstop (WING) and Starbucks (SBUX), are dishing on how they use AI.
Being associated with the tech-centric exchange may bolster Walmart’s appeal to investors. The stock is already a member of indexes including the Dow Jones Industrial Index, a blue-chip measure, and the benchmark S&P 500; the company may have its eye on the Nasdaq 100, the stock index that tracks the 100 largest companies on the Nasdaq and is considered a shorthand for tech stocks, Aptus Capital Advisors portfolio manager David Wagner said.
That index “continues to see consistent capital inflows, which could buoy the stock higher,” Wagner said.
