January 10, 2026 – New York – Retail giant Walmart (WMT.O) will officially replace British pharmaceutical company AstraZeneca (AZN.L) in the Nasdaq-100 Index on January 20, 2026, the Nasdaq exchange operator (NDAQ.O) announced on Friday.
The move follows Walmart’s decision to shift its long-time listing from the New York Stock Exchange (NYSE) to its main competitor, Nasdaq, a transition the company announced in November 2025.
Why Companies Change Listing Venues
Companies often switch exchanges for several strategic reasons:
- Better alignment with an exchange’s investor base
- Access to more advanced technology and trading services
- Potential cost savings from listing and compliance fees
In Walmart’s case, the transition to Nasdaq also positions the company to be included in the Nasdaq-100 Index, one of the most prestigious benchmarks for non-financial companies listed on Nasdaq.
About the Nasdaq-100 Index
The Nasdaq-100 Index consists of 100 of the most valuable non-financial companies listed on Nasdaq. It includes high-profile technology and consumer companies such as Apple (AAPL.O), Nvidia (NVDA.O), and others.
Walmart will also be added to the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index, effective before market open on January 20, 2026.
Strategic Implications for Walmart
Joining the Nasdaq-100 Index provides Walmart with several potential advantages:
- Increased visibility among Nasdaq-focused investors, particularly those tracking large-cap indices
- Enhanced market liquidity, as inclusion in major indices can increase stock demand
- Better alignment with technology-driven trading platforms, which Nasdaq is known for
This listing shift also underscores the growing trend of non-tech companies moving to Nasdaq to take advantage of its innovative market infrastructure and broader investor engagement.
Global Context
In 2025, several other companies moved from NYSE to Nasdaq, citing the Nasdaq-100 Index’s attractiveness as a key factor. For retail and consumer-focused giants like Walmart, the move could help strengthen investor confidence and market positioning in a competitive landscape.
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