Walmart Solidifies New Identity as a Tech Company with Move from NYSE to Nasdaq

Walmart began its first day of trading on the Nasdaq today after being listed on the New York Stock Exchange for 53 years. The move underscores Walmart’s ambition to be seen as not just a legacy retailer but as a tech leader (and perhaps the hope that the Mag 7 high-growth tech cohort will become the Mag 8). “Our decision to list on Nasdaq reflects Walmart’s deep commitment to innovation and growth as a people-led, tech-powered omnichannel retailer,” said Doug McMillon, President and CEO of Walmart in a statement. “Nasdaq’s focus on technology and its support for companies driving digital transformation align perfectly with our strategic vision. This is an exciting next chapter as we continue building a frictionless future for our customers, members, associates and shareholders.” All of the Mag 7 — including Walmart competitor Amazon as well as Apple, Microsoft, Google parent company Alphabet, Meta, Nvidia and Tesla — are listed on the Nasdaq as well. Walmart said the exchange’s “shared focus on technology-driven innovation” prompted the move. Q3 Growth in Ecom, Advertising Supports Walmart’s Tech Vision The move was first announced on an earnings call for Walmart’s fiscal Q3 2026 (which ended Oct. 31, 2025), during which global ecommerce sales grew more than 20% for the seventh straight quarter (27% in Q3 2025), and the Walmart Connect advertising business grew 57%. Stores also grew sales in Q3, but not as much, with sales up 4.5% among stores open a year or more. Walmart has indeed been on a tech-focused tear recently: in the last two months alone, the company was one of the first major retailers to integrate with ChatGPT’s Instant Checkout, rolled out a series of new AI tools for holiday shoppers and expanded its drone delivery network. “Walmart continues to set new standards in convenience, value and choice, leveraging technology to make retail simpler and more connected,” said Adena Friedman, Chair and CEO of Nasdaq. “We are proud to support Walmart’s next era of growth as they drive innovation at scale and redefine how communities worldwide engage with commerce.” In November it was announced that company veteran John Furner would be taking over as President and CEO when McMillon retires in February 2026. “We are excited for what lies ahead,” McMillon added. “With John Furner as CEO, Walmart will continue to innovate and evolve with a relentless focus on customers, technology and data-driven decision making.”