Walmart shares rose to an all-time high of $120 on Tuesday ahead of the company’s planned inclusion in the Nasdaq-100 and a listing move to the Nasdaq Global Select Market in late 2025. The shift ends a more than 50-year listing on the NYSE and aims to increase investor visibility.
The stock is up 8% year-to-date after the Nasdaq announcement this year. Analysts say inclusion should bring more investor attention and demand.
Walmart announced an expanded drone delivery partnership with Alphabet to grow its service footprint. The plan calls for 270 locations by 2027 and access for 40 million customers to deliveries within 30 minutes.
“Drone delivery plays an important role in our ability to deliver what customers want, exactly when they want it,” said Greg Cathey, senior vice president of Digital Fulfillment Transformation at Walmart. Wing began in Google’s labs in 2012 and became an independent Alphabet business in 2018.
Analysts at BTIG said Walmart’s integrated digital and physical strategy is delivering value to customers and shareholders. Doug McMillon has positioned the company for market share and profit gains despite macro pressures.
Walmart is expected to report earnings of $0.72 per share and revenue near $189.8 billion. Some price forecasts have been raised to as high as $130.
