Walmart’s Nasdaq Debut: Why the Retail Giant Now Trades Like a Tech Stock
Walmart began trading on the Nasdaq Global Select Market on December 9, 2025, after more than 50 years on the New York Stock Exchange. The switch, the largest exchange transfer on record, follows years of investment in e-commerce and AI. Walmart’s market value recently topped $900 billion, with its stock trading at about 40 times forward earnings.