Walmart Isn’t on the Nasdaq-100 Index — Yet
Walmart has moved its primary stock listing from the New York Stock Exchange to the Nasdaq, ending a run of more than 50 years on the NYSE and marking the largest company ever to make that switch.
The retailer first announced the transfer in November, saying it followed an evaluation that included trading execution, brand alignment and a shared focus on technology. Walmart kept its long-time ticker symbol, WMT.
For trucking and supply chain readers, the move matters mainly because it can affect how large investors buy and sell the stock of a company that sits at the center of U.S. freight. Walmart’s scale touches nearly every lane and market, so shifts in how its stock is held by funds can influence trading volume and investor attention—even if day-to-day store and distribution operations don’t change.
One immediate detail investors are watching: Walmart won’t be considered for the Nasdaq-100 index in this year’s annual reshuffle. Reuters and Bloomberg both reported that the company’s listing change happened too late to meet the cutoff date used to gather market information for the index’s reconstitution.
According to Jefferies, stocks generally need to meet key requirements—including having a primary Nasdaq listing—by the last trading day of November to be considered in the annual process. Walmart’s effective first days of Nasdaq trading came in early December, with the company formally relocating its primary listing on Dec. 9, 2025.
The Nasdaq-100 changes tied to this year’s reconstitution are expected to be finalized after the Dec. 12 close, with the updates taking effect later in December (with reporting noting Dec. 22, 2025 as the effective date). Six companies, including Alnylam Pharmaceuticals and Seagate Technology Holdings, are set to join the index.
Jefferies analysts described Walmart’s move as “far more substantive than symbolic,” noting that a Nasdaq listing positions the company for potential future index inclusion events. Another practical point: inclusion in major indexes can increase ownership by passive funds that track those benchmarks.
Walmart’s long NYSE run was notable. Over about 53 years on the NYSE, its stock rose more than 536,000% as of the most recent market close cited in the information provided. Now, the listing has changed, but the company remains the same major freight player that carriers and drivers see daily across stores, distribution centers and transportation networks.