On January 9, Nasdaq announced that Walmart Inc. will be added to the Nasdaq‑100 Index, the Nasdaq‑100 Equal‑Weighted Index, and the Nasdaq‑100 Ex‑Tech Sector Index, effective the market open on Tuesday, January 20, 2026. The move replaces AstraZeneca PLC in all three indices.
Walmart’s inclusion reflects its market capitalization of roughly $913 billion and its liquidity profile, making it one of the largest non‑financial companies listed on Nasdaq. The decision follows Walmart’s 2025 transfer of its listing from the New York Stock Exchange to Nasdaq, the largest exchange transfer on record, positioning the retailer within a technology‑focused ecosystem.
Being part of the Nasdaq‑100 signals increased visibility to institutional investors and index‑tracking funds. Historically, companies added to the index experience higher trading volume and positive momentum. Analysts estimate that the rebalancing of ETFs such as the Invesco QQQ could bring nearly $19 billion in inflows to Walmart shares.
Walmart’s rise to the index is underpinned by steady sales growth, expanding e‑commerce profitability, and a growing advertising, marketplace, and membership revenue stream. The retailer has also accelerated AI adoption in operations and introduced AI‑powered tools for shoppers in partnership with OpenAI, reinforcing its digital transformation.
The removal of AstraZeneca reflects the decline of its pandemic‑era vaccine revenue and a shift in investor focus toward other therapeutic areas. Walmart’s entry therefore diversifies Nasdaq’s non‑tech exposure and underscores the exchange’s broader appeal beyond traditional technology names.
The effective date falls on the first trading day after Martin Luther King Jr. Day, ensuring a smooth transition. The inclusion is expected to enhance Walmart’s institutional footprint and liquidity, positioning the retailer for continued growth in a rapidly evolving retail landscape.
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