Walmart Enters Its Nasdaq Era With Eye On Faster Deliveries And Tech-Heavy Playbook

• On Tuesday, Walmart’s stock began trading on the Nasdaq Stock Exchange, marking the first time its common stock has traded on the exchange in the retailer’s 63-year history.
• In November, a few days before its quarterly results, Walmart announced that Doug McMillon would retire as CEO in January.
• Walmart said that e-commerce sales grew 28%, led by strength in pickup and delivery and advertising during the third quarter.

As Walmart heads into 2026, the company has laid the groundwork for another year of growth, rolling out several changes that support its long-term push to become a retail-and-tech hybrid.

The broader retail environment in the United States has been volatile, with several retailers flagging a cautious consumer who has become concerned about price hikes that took effect due to tariffs. Walmart has, however, beaten the blues for most of the year, as its strategy to keep prices within a lower range and ensure faster delivery has helped the retailer see sustained demand and consumers shopping in its aisles more frequently.

Walmart’s NYSE To Nasdaq Journey

On Tuesday, Walmart’s stock began trading on the Nasdaq Stock Exchange, marking the first time its common stock has traded on the exchange in the retailer’s 63-year history. The move, which was announced in November, is a part of the company’s focus on technology-driven innovation to support Walmart’s position as a leading omnichannel retailer.

Walmart, which has in recent years invested heavily in technology and automation efforts for its stores, finds that Nasdaq provides the optimal market platform to support its ambitions and continue driving returns for shareholders. “Nasdaq’s focus on technology and its support for companies driving digital transformation align perfectly with our strategic vision,” outgoing CEO Doug McMillon said.

A New CEO At Helm, Starting In 2026

In November, a few days before its quarterly results, Walmart announced that McMillon would retire from the company in January after over a decade of leading the retailer and overseeing its transition into a more tech-powered retailer.

Under his leadership, Walmart has had a good run, going from offering only retail products to now using technology to drive gains for the business. McMillon has overseen the company and led it through the pandemic, when product scarcity and eventual inventory overload were taking the retail world by storm.

As McMillon bids bye as CEO, he will be succeeded by the retailer’s U.S. division head, John Furner, effective February 1, 2026. Furner, who has served as President and CEO of Walmart U.S. since 2019, has led the company’s largest operating segment, comprising more than 4,600 stores.

Walmart said that Furner began his career at the retailer as an hourly associate in 1993 and has held leadership roles across merchandising, operations and sourcing.

A Push Into Faster Deliveries

The retailer this year ventured into offering drone deliveries and has also announced the same-day delivery of pharmacy items, including refrigerated and reconstituted medications such as insulin, GLP-1s, and pediatric amoxicillin, and is available across the United States.

To build on holiday demand and beat competition, mainly from Amazon and Walmart, Walmart has made changes to its delivery times. The company on Tuesday said that it was offering “Express Delivery” in as fast as one hour on orders placed up to 5 p.m. ET on Christmas Eve.

Walmart’s Way To Beat Tariffs: Price Hikes

In May, Walmart said it would have to start raising prices later that month due to the high cost of tariffs. The move to take price hikes was a different playbook for Walmart, which has offered items at a cheaper price range.

Walmart's Chief Financial Officer, John David Rainey, reportedly said in May that U.S. shoppers will start to see prices rise at the end of May and certainly in June. During the post-earnings call that month, he noted Walmart would also have to cut back on orders as it considers price elasticity.

Walmart’s Expanding Operating Income

The aim of focusing on boosting operating income through investing in e-commerce capabilities and advancing the advertising offering has greatly benefited the retailer, which is trying to become more omnichannel.

E-commerce is a primary focus for Walmart, where Amazon is the most significant player in the United States. Ensuring same-day pickup, faster deliveries, and the option to book pharmacy items through its app is a way to attract customers who are looking to shop more online.

Walmart’s advertising business is still in its early stages compared to Amazon's, but it has seen steady growth, with several companies willing to market their products through Walmart’s retail media.

In November, Walmart said that e-commerce sales grew 28%, led by strength in pickup and delivery and advertising during the third quarter. Rainey said during a post-earnings call that in the third quarter, the combination of advertising and membership fee income represented approximately one-third of Walmart’s consolidated adjusted operating income.  “With continued strong momentum in E-commerce, our advertising business globally increased 53%, including VIZIO,” he said.

How Are Retail Traders Reacting?

Retail sentiment on Walmart improved to ‘neutral’ from ‘bearish’ territory a month ago, with message volumes at ‘low’ levels, according to data from Stocktwits.

While sentiment on Amazon was in the ‘neutral’ territory, compared to ‘bearish’ a month back.

Shares of Walmart have gained over 28% this year, and Amazon’s stock has jumped 4% in the same period. Walmart has outperformed Amazon, as well as the Consumer Discretionary Select Sector SPDR Fund (XLY) and Consumer Staples Select Sector SPDR Fund (XLP) ETFs.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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