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Walmart Inc. (NYSE:WMT) has made a historic move by transferring its listing from the New York Stock Exchange (NYSE) to the NASDAQ on Thursday, citing a tech-focused strategy and the role of artificial intelligence (AI) in its operations.
The transfer, set to commence on December 9, marks the largest-ever exchange shift and a significant win for Nasdaq over its traditional rival. The ticker will remain WMT.
Alongside its common stock, Walmart will also move the listings of nine of its bonds to Nasdaq.
Walmart, the fourth-largest listing on the NYSE by market capitalization, has been a part of the NYSE since 1972. The move is seen as a testament to Walmart’s “technology-forward approach” and its efforts to redefine industries.
John Rainey, Walmart’s Chief Financial Officer, stated, “Walmart is setting a new standard for omnichannel retail by integrating automation and AI.”
Walmart’s latest decision aligns with its July move towards a bold AI overhaul to streamline the user experience. Walmart consolidated its AI tools into four unified “super agents,” each designed for a specific group: customers, employees, engineers, and sellers or suppliers. This move was aimed at simplifying interaction and driving efficiency, margins, and market edge.
The largest U.S. retailer topped expectations for the third quarter, reporting adjusted EPS of 62 cents versus 60 cents expected and revenue of $179.5 billion, up 5.8% year over year and above the $177.43 billion forecast. However, despite a strong third-quarter performance and reports of stabilizing grocery prices, Walmart executives have cautioned that tariffs remain a lingering variable that could impact the cost of household items.
Walmart holds a momentum rating of 62.09% and a growth rating of 78.84%, according to Benzinga's Proprietary Edge Rankings. The Benzinga Growth metric evaluates a stock’s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. Check the detailed report here.
Price Action: On a year-to-date basis, Walmart shares surged 19.01%, as per Benzinga Pro. On Thursday, they closed 6.46% higher at $107.11
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: WMT
