Walmart hits $1 trillion market cap, days after new CEO made it clear that he is willing to change everything except …
Walmart reached a market capitalization of over $1 trillion on Tuesday (February 3). This makes the American company the first retailer in the world to join an exclusive club of companies to reach a 13-figure valuation that mostly consists of technology companies like Google, Nvidia, Amazon, Microsoft and Meta. The company has been riding on a year-long rally that has seen its shares rise nearly 26%. The retail giant reached the $1 trillion mark only about two weeks after it moved from the New York Stock Exchange (NYSE) to the Nasdaq-100. The trillion-dollar tag also comes only two days after new CEO John Furner took over for longtime CEO Doug McMillon. Walmart’s ascent has been notable as it has managed to tap into a mix of appealing simultaneously to higher-income customers seeking value and convenience and retaining its core base of lower-income shoppers
