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.

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.

What 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.