Published December 11, 2025
Walmart Inc. (NASDAQ: WMT) is waking up to its second full trading day on the Nasdaq with its share price sitting just below record territory and investors trying to digest a powerful mix of macro news, holiday-season catalysts and a rich valuation.
On Wednesday, December 10, Walmart closed at $113.18, down 1.63% on the day, after trading as high as $116.23 and as low as $112.99. [1] In extended trading after the bell, the stock ticked slightly higher to around $113.32 as of 7:59 p.m. Eastern, a gain of about 0.1% from the close. [2]
That mild after-hours rebound came as Wall Street continued to process a fresh U.S. Federal Reserve rate cut, Walmart’s high-profile move to the Nasdaq, new 3D-printing expansion plans with partner Alquist, and the final sprint of the 2025 holiday shopping season.
Below is what happened with Walmart stock after the bell on December 10, 2025, and what traders and longer-term investors should know heading into the U.S. stock market open on Thursday, December 11.
How Walmart Stock Traded on December 10 – and What After-Hours Told Us
Regular session
Data from StockAnalysis and other price feeds show Walmart opening Wednesday at $115.35, with intraday trading confined to a relatively tight but active band between $112.99 and $116.23 before closing at $113.18 on volume of about 21–22 million shares. [3]
That close:
- Left WMT about 1.6% lower on the day
- Put it roughly 3% below its recent 52‑week high of $116.27 set on December 5 [4]
- Still kept the stock more than 20% higher over the past 12 months, and roughly 25% up year‑to‑date, according to Barchart and Fast Company figures. [5]
In other words, Wednesday’s red close looks more like consolidation after a big run than the start of a clear downtrend.
After-hours trading
MarketBeat’s extended-hours data show Walmart edging up to $113.32 (+0.13%) by 7:59 p.m. Eastern, on relatively light electronic volume. [6] That modest bounce suggests:
- No major new negative headlines hit after the closing bell.
- Some dip‑buyers were comfortable stepping in around the low‑$113 area.
- Volatility was contained despite the busy macro backdrop.
For now, the stock appears to be digesting its recent rally and Nasdaq move, rather than breaking decisively in either direction.
Macro Backdrop: Fed Cut, Futures and Thursday’s Data
On Wednesday, the Federal Reserve delivered a quarter‑point interest rate cut, lowering the federal funds target range to 3.5%–3.75%, its third cut this year. [7] Major U.S. indices reacted positively: the Dow gained around 1.1%, the S&P 500 about 0.7% and the Nasdaq Composite roughly 0.3%, according to market wrap reports. [8]
Lower rates matter for Walmart because:
- They support equity valuations, particularly for large, steady cash‑generating companies.
- They can ease borrowing costs for consumers and businesses, potentially lifting discretionary spending over time.
- They keep defensive growth names like Walmart attractive relative to bonds, even with a modest dividend yield.
Overnight, Reuters reported that U.S. stock futures dipped as Asian markets reacted to a sharp post‑earnings drop in Oracle shares, even as bond markets rallied on the Fed’s cut. [9] S&P 500 futures were recently modestly lower, aligning with Investing.com data showing the S&P 500 E‑mini contract down about 0.3% versus Wednesday’s settlement. [10]
For Thursday morning itself, traders also had to digest weekly U.S. initial jobless claims, released at 8:30 a.m. Eastern. Data for the week ending December 6 showed 220,000 new claims, above a consensus forecast of about 191,000, signalling a softening but not collapsing labour market. [11]
Taken together, the macro backdrop is a mix of:
- Supportive rates and a still‑growing U.S. economy
- Incremental labour‑market cooling, which might weigh on low‑income consumers but also reduces inflation pressure
- Some near‑term risk‑off nerves tied to tech earnings and rich overall market valuations
For Walmart, that’s a fairly constructive environment, but one where investors may be picky about how much they are willing to pay for defensive growth.
Walmart’s New Nasdaq Era: A Tech‑Forward Rebranding
December 10’s trading is happening in the shadow of a historic exchange switch.
Walmart completed its transfer from the New York Stock Exchange to the Nasdaq Global Select Market on December 9, 2025, keeping its WMT ticker. [12] Fast Company notes this is the largest stock‑exchange transfer in history by market value: Walmart left the NYSE with a market cap of over $905 billion, and now sits among the top‑10 largest companies on Nasdaq. [13]
The move is as much about branding as it is about trading:
- Nasdaq is home to the “Magnificent 7” tech giants like Apple, Amazon and Nvidia. [14]
- Walmart’s leadership explicitly framed the switch as aligning a “people‑led, tech‑powered” strategy with a more innovation‑centric exchange. [15]
- Internal messaging highlights automation and AI as central to Walmart’s long‑term plan, particularly in supply chain and customer experience.
The exchange move could matter for the stock in three ways:
- Perception: Investors may increasingly view Walmart as a technology‑enabled platform rather than a traditional brick‑and‑mortar retailer, which can justify a higher multiple. [16]
- Index & ETF flows: As one of Nasdaq’s biggest names, Walmart is likely to see added attention from tech and growth‑tilted funds over time. [17]
- Peer set: Analysts and media now more often compare WMT against Costco, Target and mega‑cap tech simultaneously, reinforcing the “retail‑plus‑tech” narrative.
Wednesday’s pullback, according to MarketBeat’s “trading down” commentary, largely reflects profit‑taking after the Nasdaq debut and recent run‑up, not a change in fundamentals. [18]
Holiday 2025 Catalysts: One‑Hour Delivery and App Upgrades
Operationally, Walmart enters the heart of the December holiday season with fresh logistics and digital tools that could support both near‑term sales and the long‑term “tech retailer” story.
In a December 9 press release, the company announced that it is offering Express Delivery in as fast as one hour on orders placed up to 5 p.m. local time on Christmas Eve, as well as expanded cutoffs for same‑day pickup and standard shipping. [19] Walmart also rolled out a new “Get it Now” option in its app, which shows customers an estimated arrival time and lets them place an order in a single tap. [20]
Key details from the holiday update:
- Express Delivery up to 5 p.m. on December 24
- Same‑day pickup and delivery cutoffs at noon on December 24
- Standard shipping cutoff midday on December 23 for Christmas arrival
- The company says its delivery capabilities now reach about 95% of U.S. households in under three hours. [21]
The release also touts record‑breaking Black Friday and Cyber Monday performance, reinforcing the narrative that Walmart’s omnichannel model (stores + online + app + membership) is gaining traction with consumers. [22]
For Thursday’s open, investors will be thinking about:
- Whether these capabilities help Walmart capture late‑season share from competitors
- How much incremental margin the company can squeeze out via fees, advertising and higher‑margin digital sales, not just gross merchandise volume
3D‑Printed Retail: The Alquist Deal and Capital Efficiency
One of the more eye‑catching storylines around Walmart this week is its expanding partnership with Alquist 3D, a construction technology firm.
On December 10, CNBC highlighted a “landmark deal” under which Walmart and Alquist plan to roll out more than a dozen 3D‑printed commercial projects, building on earlier pilot expansions at stores in Athens, Tennessee and Owens Cross Roads, Alabama. [23]
Earlier Business Wire and 3D‑printing industry reports describe how Alquist completed an approximately 8,000‑square‑foot, 20‑foot‑high addition for Walmart in Athens to support online pickup and delivery, with construction time reduced by around 50% and stronger concrete walls than traditional builds. [24]
Why does this matter for shareholders?
- Capex efficiency: Faster, potentially cheaper construction could free up cash and speed deployment of new e‑commerce and logistics capacity. [25]
- Brand signal: 3D‑printed buildings reinforce the idea that Walmart is willing to experiment aggressively with new technologies, not just in software but in physical infrastructure. [26]
- Scalability: If early projects deliver the promised cost and speed benefits, scaling to dozens of locations could give Walmart a tangible bricks‑and‑mortar efficiency edge.
TipRanks‑linked coverage and other analyst commentary flag the Alquist partnership as one of several “tech‑enabled growth” drivers that support the bullish long‑term thesis on WMT. [27]
Fundamentals: Q3 Results Underpin the Rally
Underneath the headlines, Walmart’s recent earnings performance remains a core driver of the stock’s strength.
In fiscal Q3 2026 (quarter ended October 31, reported November 20), the company delivered: [28]
- Revenue of $179.5 billion, up 5.8% year‑over‑year and ahead of analysts’ expectations around $177.5 billion
- Adjusted EPS of $0.62, up about 6.9% from a year earlier and slightly above the $0.60 consensus
- Global e‑commerce growth of 27%, driven by store‑fulfilled pickup and delivery and marketplace sales
- Walmart U.S. net sales up 5.1% to $120.7 billion, with U.S. e‑commerce also up 27%
- Walmart International revenue up 10.8% to $33.5 billion
- Sam’s Club U.S. e‑commerce up 22%
Management raised its full‑year guidance, now expecting:
- Constant‑currency net sales growth of 4.8%–5.1% (up from 3.8%–4.8%)
- Adjusted EPS of $2.58–$2.63, versus a prior range of $2.52–$2.62 [29]
TickerNerd’s aggregated financials show trailing‑twelve‑month revenue of roughly $703 billion, net margin around 3.3% and return on equity near 24%, underscoring the scale and profitability of the business despite tight retail margins. [30]
Analysts at Zacks, in a December 9 blog focused on Walmart International, point to digital growth, advertising and faster fulfillment as key levers for sustaining mid‑single‑digit revenue growth into 2026. [31]
Valuation, Analyst Targets and Quant Scores
Here’s where the story gets more nuanced.
Valuation
- Barchart estimates Walmart trading at about 43x non‑GAAP earnings, versus an industry average near 16x. [32]
- TickerNerd pegs the trailing P/E at roughly 40x with a price‑to‑sales ratio of about 1.3x. [33]
Either way, Walmart trades at a premium multiple to most traditional retailers, reflecting:
- Its scale and consistent execution
- Strong e‑commerce and advertising momentum
- The market’s willingness to pay up for what increasingly looks like a “platform” business
Analyst sentiment
MarketBeat, Barchart and other aggregators show: [34]
- A consensus rating between “Buy” and “Strong Buy”, with the vast majority of covering analysts positive on the stock
- A 12‑month average price target clustered around $119–$121, implying roughly 5–7% upside from Wednesday’s close
- Street‑high targets around $130, implying potential double‑digit upside if execution remains strong
Recent moves include Evercore ISI lifting its target to $117 and Tigress Financial assigning a $130 target, citing Walmart’s technology‑driven scaling and AI investments. [35]
On the quantitative side:
- Zacks highlights Walmart as a “top momentum stock for the long term”, noting strong price performance and favourable Style Scores. [36]
- TipRanks‑linked coverage from CNBC lists Walmart among three stocks favoured by top Wall Street analysts for long‑term growth potential. [37]
Bottom line: Analysts largely agree the fundamental story is strong, but they increasingly flag the elevated multiple as a risk for near‑term pullbacks — exactly the kind of consolidation the stock is seeing this week.
Technical Picture and Model‑Based Forecasts
From a purely technical standpoint:
- Walmart’s 52‑week range runs from roughly $79.81 to $116.27, putting Wednesday’s close near the top end of that band. [38]
- The stock has logged double‑digit gains over 1, 6 and 12 months, with Barchart citing 20.2% 1‑year and 16.8% six‑month gains. [39]
Algorithmic technical forecasts from LiteFinance and similar platforms generally point to:
- December 2025 trading in the $111–$118 range, with an average around $114–$115
- Potential upside toward the low‑$120s in early 2026, and more aggressive models suggesting room to $150+ by the end of 2026 if the trend continues. [40]
Those models are not guarantees; they simply reflect historical volatility, trend strength and pattern‑matching. For Thursday’s open, the more immediate technical levels to watch are:
- Support: the $112–$113 zone, which roughly corresponds to Wednesday’s intraday low and recent consolidation
- Resistance: the $115–$116 area, where the stock has repeatedly stalled near its fresh 52‑week high
Dividend Profile and the December 12 Ex‑Dividend Date
Walmart remains a Dividend Aristocrat, with more than 50 years of consecutive dividend increases. [41]
Key income facts:
- Current annual dividend of about $0.94 per share, implying a yield around 0.8–0.9% at recent prices. [42]
- Next ex‑dividend date: Friday, December 12, 2025 — investors who own the stock by the close of trading on December 11 will qualify for the upcoming payout, scheduled for January 5, 2026. [43]
Because the yield is modest, the price drop on the ex‑dividend date is typically small, but:
- Some short‑term traders may “capture” the dividend, adding a bit of volume around the record date. [44]
- Long‑term investors view the steady dividend and buybacks (Walmart is also flagged as a “buyback aristocrat”) as part of a stable total‑return story. [45]
What to Watch Before the December 11 Market Open
Putting it all together, here are the key factors for Thursday’s session in Walmart stock:
- Pre‑Market Price Action Around $113
Nasdaq’s pre‑market quote shows bids and offers clustering around $113 (bid about $112.88, ask about $113.60, on light volume), signalling a relatively calm open unless fresh news hits. [46] A decisive break below $112 would suggest deeper profit‑taking, while a push back toward $115+ would indicate dip‑buyers quickly absorbing supply. - Market Reaction to the Fed Cut and Jobless Claims
Futures indicate a slightly softer open for U.S. indices as investors weigh the Fed’s dovish move against concerns over growth and tech earnings. [47] Jobless claims coming in above expectations (220k vs 191k forecast) add to the narrative of a cooling but not collapsing labour market. [48] That mix could favour defensive growth names like Walmart, but also keep markets choppy. - Follow‑Through on Nasdaq and 3D‑Printing Headlines
Wednesday’s drop was partly a “hangover” from the excitement around Walmart’s Nasdaq debut and fresh tech‑driven narratives, including the Alquist partnership. [49] Watch whether investors buy the dip on the idea that these stories support multi‑year margin expansion, or continue to trim exposure on valuation concerns. - Holiday Demand Signals and E‑Commerce Commentary
With one‑hour delivery and new app features now promoted nationally, any incremental data points on holiday traffic, online order growth or delivery bottlenecks — from Walmart or its rivals — could influence sentiment. [50] - Valuation Sensitivity at the Top of the Range
With WMT trading in the high‑30s to low‑40s P/E range, some investors will be quick to lock in profits on any perceived disappointment. [51] On the other hand, analysts remain broadly bullish, and WMT’s inclusion in momentum and “top analyst pick” lists keeps a bid under the stock on pullbacks. [52] - Approaching the December 12 Ex‑Dividend Date
The looming ex‑dividend date may slightly support the share price into Friday, as some income‑oriented investors add positions to capture the payout, though the effect is usually modest given the sub‑1% yield. [53]
Final Thought
Walmart enters Thursday’s session as a near‑trillion‑dollar retailer‑plus‑platform, trading near all‑time highs, fresh off a historic Nasdaq listing, and backed by strong recent results and ambitious technology bets — from AI‑driven logistics to 3D‑printed stores. At the same time, the stock’s premium valuation and Fed‑sensitive macro backdrop leave it vulnerable to bouts of volatility, as December 10’s pullback illustrates.
For short‑term traders, the game today is about how WMT behaves around the $112–$116 band as Wall Street digests the Fed cut, jobs data and holiday newsflow. For longer‑term investors, the bigger question is whether Walmart can keep growing like a tech company while still acting as a defensive consumer staple — a rare combination the market is currently willing to pay handsomely for.
References
1. stockanalysis.com, 2. www.marketbeat.com, 3. stockanalysis.com, 4. www.barchart.com, 5. www.barchart.com, 6. www.marketbeat.com, 7. www.investopedia.com, 8. www.investopedia.com, 9. www.reuters.com, 10. www.investing.com, 11. www.investing.com, 12. www.nasdaq.com, 13. www.fastcompany.com, 14. www.fastcompany.com, 15. www.fastcompany.com, 16. www.fastcompany.com, 17. www.fastcompany.com, 18. www.marketbeat.com, 19. www.businesswire.com, 20. www.businesswire.com, 21. www.businesswire.com, 22. www.businesswire.com, 23. www.prea.org, 24. www.businesswire.com, 25. 3dprint.com, 26. 3dprint.com, 27. www.tipranks.com, 28. www.barchart.com, 29. www.barchart.com, 30. tickernerd.com, 31. tickernerd.com, 32. www.barchart.com, 33. tickernerd.com, 34. www.barchart.com, 35. www.barchart.com, 36. www.zacks.com, 37. ground.news, 38. www.nasdaq.com, 39. www.barchart.com, 40. www.litefinance.org, 41. www.suredividend.com, 42. stockanalysis.com, 43. www.koyfin.com, 44. www.dividend.com, 45. www.barrons.com, 46. www.nasdaq.com, 47. www.reuters.com, 48. www.investing.com, 49. www.fastcompany.com, 50. www.businesswire.com, 51. www.barchart.com, 52. www.zacks.com, 53. stockanalysis.com
