Why You Can No Longer Find Walmart on the NYSE
Key Points
The retail giant hopes to emphasize its technology innovation by trading on the Nasdaq exchange.
Walmart's stock has skyrocketed in value over the past five decades.
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Are you looking for the Walmart (NASDAQ: WMT) ticker on the New York Stock Exchange?
After more than half a century trading on the NYSE, you'll no longer find Walmart there. The retailing behemoth just moved its listing from the NYSE to the tech-heavy Nasdaq exchange. Its first day of trading on the Nasdaq was Dec. 9.
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Apparently, the company is attempting to position itself as a technology firm.
"Nasdaq's focus on technology and its support for companies driving digital transformation align perfectly with our strategic vision," Doug McMillon, president and CEO of Walmart, said in a press release. "This is an exciting next chapter as we continue building a frictionless future for our customers, members, associates, and shareholders."
The company has experienced astounding growth over 50 years
Walmart first listed on the NYSE on Oct. 1, 1972, at $16.50 a share. Today, the shares trade at around $114. But the stock has split 12 times, most recently in 2024, so the price growth for this company is somewhat misleading.
Image source: Getty Images.
If you had spent $16.50 to purchase one share of Walmart at its IPO, you'd now have 6,144 shares worth $586,076, not including dividend gains.
Today, Walmart has a market capitalization of more than $925 billion. It is the largest employer in the U.S. with 1.6 million employees nationwide.
And the stock remains a solid investment. It's up more than 28% this year.
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Matthew Benjamin has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walmart. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.
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