Marketplace Morning Report Walmart is moving (to the Nasdaq)
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Dec 9, 2025 Jay Ritter, a finance professor at the University of Florida, analyzes Walmart's historic shift from the NYSE to Nasdaq. He discusses how this move reflects Walmart's tech-like growth and higher valuation compared to giants like Apple and Amazon. Jay also predicts an influx of $20 billion in indexed investments thanks to Nasdaq's inclusion. Additionally, the conversation touches on consumer sentiment regarding inflation and how perceptions can impact spending behaviors.
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Walmart Looks More Like A Tech Player
- Walmart's online growth and higher P/E make it look more like a tech competitor to Amazon than a traditional big-box retailer.
- Jay Ritter says that perception partly explains Walmart's decision to list on NASDAQ alongside major tech firms.
Index Inclusion Can Drive Billions
- Listing on NASDAQ can add index-driven demand beyond the S&P 500 inclusion.
- Jay Ritter estimates about $20 billion more could flow into Walmart via inclusion in NASDAQ's QQQ index.
Listing Move Won't Reroute All Trading
- Changing listing venues doesn't necessarily shift where trading happens or alter overall volume dramatically.
- Jay Ritter notes NYSE still provides certification and trading may remain dispersed across venues.