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Key takeaways
- Walmart shares are scheduled to begin trading on the Nasdaq on December 9 after years on the New York Stock Exchange.
- This move comes at a time when Walmart is emphasizing the size of the role that technology and artificial intelligence play in the business.
Walmart joins an exchange with a known technology focus as its digital sales skyrocket.
Walmart (WMT) will leave the New York Stock Exchange for the Nasdaq, where it expects its shares to begin trading on Dec. 9, the company said Thursday. The shares will retain the ticker symbol “WMT” after the move.
A Reuters The report said that the change represents the largest change for the company ever in terms of market value. The New York Stock Exchange did not respond to this Investopedia Comment requested 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, technology-powered approach,” CFO John Rennie said. He and other company executives spoke about Walmart’s technology capabilities on a conference call Thursday, saying e-commerce, automated fulfillment centers and AI-powered communication are fueling Walmart’s growth.
Why this news matters to investors
Corporate stocks have sometimes benefited from their association with the latest technological trends, the dot-com era being one example – and today’s AI-driven era another. Walmart is seeking to modernize its image with its move to the Nasdaq stock exchange.
“Walmart is setting a new standard for omnichannel retail by integrating automation and artificial intelligence to build smarter, faster, more connected experiences for customers,” Rennie said, according to a transcript made available by AlphaSense.
Walmart isn’t the only company emphasizing its digital capabilities as stock prices of tech giants soar. Target (TGT) designers and marketers ask AI to identify trends. Delta Air Lines (DAL) used artificial intelligence to set prices. Even restaurants, like Wingstop (WING) and Starbucks (SBUX), are exploring how to use AI.
A tie to the tech-focused stock exchange could boost Walmart’s appeal to investors. The stock is already a member of indices including the Dow Jones Industrial Average, a blue-chip benchmark, and the S&P 500; David Wagner, portfolio manager at Aptus Capital Advisors, said the company may have its eyes on the Nasdaq 100, the stock index that tracks the 100 largest companies on the Nasdaq and is shorthand for technology stocks.
This indicator “continues to see steady capital inflows, which could boost the stock higher,” Wagner said.
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