Walmart will join the Nasdaq 100 index on January 20, replacing pharmaceutical company AstraZeneca.
The move follows Walmart’s historic listing transfer from the New York Stock Exchange to Nasdaq. Having reached a market capitalization of nearly a trillion dollars, Walmart has benefited from the growth of e-commerce and the utilization of AI.
The article states that analysts predict the index change will attract approximately $19 billion in investment flows into Walmart’s stock as funds rebalance their holdings.