Walmart debuted on the Nasdaq stock market on Tuesday. The retailer completed the listing transfer of its stock and bonds after decades of trading on the New York Stock Exchange.
The move marks a new chapter in the company’s growth, according to the retailer. The company’s ticker symbol continues to be WMT.
“Our decision to list on Nasdaq reflects Walmart’s deep commitment to innovation and growth as a people-led, tech-powered omnichannel retailer,” CEO Doug McMillon said in a statement.
To mark the company’s debut, Walmart private fleet driver Matt Brimmeier rang the opening bell on Tuesday.
The big-box retailer first announced the listing transfer in November. The decision followed an evaluation that included trading execution, brand alignment and a shared focus on technology, per the company.
“Nasdaq’s focus on technology and its support for companies driving digital transformation align perfectly with our strategic vision,” McMillon said. “This is an exciting next chapter as we continue building a frictionless future for our customers, members, associates, and shareholders.”
The move to Nasdaq is more than symbolic, according to Jefferies analysts in a Nov. 20 note. “It signals a strategic alignment with the tech-heavy exchange and positions the company for inclusion in the Nasdaq 100, a move that could attract incremental passive inflows from index-tracking funds.”
The big-box retailer has had a full slate of tech-forward announcements this year, including launching an AI framework centered around four “super agents” to support operations. The company also partnered with OpenAI so shoppers can make purchases within ChatGPT.
The move to Nasdaq emphasizes the company’s “narrative as a ‘tech-powered omnichannel retailer,’ leveraging automation, AI, and digital advertising to drive growth beyond traditional retail,” per Jefferies.
At the head of the company’s tech-forward initiatives will soon be John Furner, following McMillon’s retirement at the end of January. “With John Furner as CEO, Walmart will continue to innovate and evolve with a relentless focus on customers, technology, and data-driven decision making,” McMillon said.
Walmart first went public on Oct. 1, 1972, listing on the New York Stock Exchange at $16.50 per share.
