Walmart Inc., the US retail giant, will transfer its common stock listing and nine bond classes from the New York Stock Exchange (NYSE) to the Nasdaq Stock Market on 9 December 2025, while retaining its ticker symbol WMT.
What is motivating Walmart’s move
Walmart says the decision is rooted in its long-term strategy: the company is positioning itself as more than just a traditional retailer and increasingly embracing technology, automation and artificial intelligence.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
By switching to Nasdaq, Walmart aims to align with an exchange that more closely reflects its “technology-forward” identity, according to its CFO.
Financial strength underpins the shift
The move comes after a strong third quarter, in which Walmart reported $179.5bn in revenue—a 5.8% year-on-year increase.
Its adjusted net income for the quarter was $6.14bn, or $0.62 per share, passing many analysts’ expectations.
On the basis of this performance, Walmart raised its sales forecast for the full fiscal year to 4.8 %–5.1 % growth—up from its previous target.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataWhat the change means for Walmart and the wider market
For Walmart, this shift in listing venue carries a strong symbolic weight. By moving to Nasdaq, it is signalling to the market that it sees itself as a modern, tech-enabled omnichannel business—not just a bricks-and-mortar retailer.
For investors, the move could make the company more attractive to those who favour growth and technology-driven firms. Nasdaq, long associated with technology and innovation, may bring a different investor mix than the more traditional NYSE.
It is also seen as a meaningful victory for Nasdaq itself: Walmart is one of the largest and most established US companies, and its switch boosts Nasdaq’s clout in the competition between stock exchanges.
Practical and market-structure notes
- Walmart’s bond series—nine different notes—will also transfer to Nasdaq and will keep their existing trading symbols.
- According to its regulatory filing (Form 8-K), trading of Walmart’s shares and bond listings will end on the NYSE at the close of 8 December 2025, and begin on Nasdaq the next morning.
- The listing on Nasdaq will be on its “Global Select Market,” which is the exchange’s top tier.
Ultimately, Walmart’s move is more than a technical change — it reflects a deeper shift. The company is increasingly presenting itself as a technology-led player, not just a retailer.
For partners, suppliers and other businesses in the retail ecosystem, that could affect how they view Walmart’s future investments, innovation capacity and strategic direction.
