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Its a historic day for both Walmart and the Nasdaq. Today, Americas largest brick-and-mortar retailer begins trading on the Nasdaq after its shares spent over half a century on the New York Stock Exchange (NYSE). Heres what you need to know about Walmarts move to the Nasdaq. Whats happened? A week before Thanksgiving, Walmart announced that it would transfer its common stock listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market. The move is historic for a few reasons. The first is that Walmart (Nasdaq: WMT) shares have traded on the NYSE since 1972the last 53 years. Walmart went public in 1970, but traded on over-the-counter markets for the first two years before joining the NYSE. That ends today. And Walmarts time on the NYSE was a good one. Over the last 53 years, Walmarts stock on the NYSE has grown more than 536,000% as of yesterdays market close. By moving to the Nasdaq, Walmart is beginning a new chapter of its financial life. But the second reason Walmarts move to the Nasdaq is historic is because of Walmarts current valuation. As of its last trading day on the NYSE yesterday, Walmart had a market cap of more than $905 billion. Its transfer from the NYSE to the Nasdaq represents the largest stock exchange transfer in history. Other companies have moved stock exchanges in the past, but the total value of their shares was nowhere near Walmarts. Why is Walmart moving to the Nasdaq? Walmart cited several reasons for its decision to move from the NYSE to the Nasdaq. But a lot of it has to do with image. Over the past few decades, the Nasdaq has become home for the most technologically progressive, forward-thinking companies on the planet. The Nasdaq is where all of the so-called Magnificent 7 tech companies are traded: Apple (Nasdaq: AAPL) Amazon (Nasdaq: AMZN) Nvidia (Nasdaq: NVDA) Microsoft (Nasdaq: MSFT) Meta (Nasdaq: META) Alphabet (Nasdaq: GOOG) Tesla (Nasdaq: TSLA) All those companies have experienced tremendous growth on the Nasdaq, and they are seen as engines of Americas economic innovation. On the other hand, the New York Stock Exchange, while a respected institution and storied marketplace, is sometimes seen as the exchange for legacy companies, such as big banks in the financial sector and other industrial stocks like automakers and agricultural companies, not to mention brick-and-mortar retailers like Target (NYSE: TGT) and Gap (NYSE: GAP). It seems that Walmart no longer wants to be grouped with those legacy companies (and, in some cases, competitors) and instead wants to be seen as being in the same league with the country’s innovative tech giants. (To be sure, NYSE still gets its share of high-profile tech listings, including companies like Figma and Circle Internet Group, which went public just this year.) Moving to Nasdaq aligns with the people-led, tech-powered approach to our long-term strategy,” Walmarts chief financial officer, John David Rainey, said when announcing the move last month. “Walmart is setting a new standard for omnichannel retail by integrating automation and AI to build smarter, faster, and more connected experiences for customers, while enabling our associates to deliver even greater value at scale. In other words, the move underscores Walmarts desire to be seen more as a tech-focused, AI-first company rather than the worlds largest legacy retailer. As the company said in its announcement: The move to Nasdaq underscores the strong alignment between Walmart and Nasdaq’s shared values: a technology-forward approach, delivering exceptional client value, and redefining their respective industries through innovation. When is Walmart moving to the Nasdaq? Walmart moves to the Nasdaq today, Tuesday, December 9. Walmarts last trading day on the New York Stock Exchange was yesterday. As of the time of this writing, its shares are already trading in premarket trading on the Nasdaq Global Select Market Is Walmart getting a new ticker symbol? No. Walmart will continue to retain its historic ticker symbol of WMT. Are stock exchange transfers common? They arent frequent events, but they arent uncommon. As Reuters notes, earlier this year, Shopify (Nasdaq: SHOP) and Kimberly-Clark (Nasdaq: KMB) transferred to the Nasdaq. Other companies, including CSW Industrials (NYSE: CSW) and Virtu Financial (NYSE: VIRT) transferred to the NYSE. But what is uncommon about Walmarts move to the Nasdaq is the sheer size of the company doing so. As The Motley Fool points out, Walmarts current market cap makes it the largest company to ever transfer stock exchanges. Walmart is currently worth around $905 billion. That value dwarfs the value of the next-largest company ever to switch exchanges: chemicals and gas giant Linde (Nasdaq: LIN), which moved to the Nasdaq in 2023 with a then-market value of $180 billion. Before Lindes move, soda maker PepsiCo (Nasdaq: PEP) was the previous largest company to switch exchanges, moving to the Nasdaq in 2017 when it had a market value of around $166 billion. So while stock exchange transfers aren’t rare, Walmarts stock exchange transfer is notable given the size of the company. Could this boost Walmart’s stock price? Thats hard to say. The most significant factor in Walmarts future share performance will continue to be the companys fundamentals. If Walmart continues to perform well, its stock is likely to keep rising. If it starts performing badly, the stock is likely to fall. However, Walmarts move to the Nasdaq could have a psychological effect on some investors, who may see the company now more as a tech-focused growth stock than a legacy retailer. That type of psychological impact could lead to greater interest in the stock, which could push up its share price. Walmart shares could also get a boost if they are included in index funds that are compiled with stocks that mimic the makeup of the largest companies on the Nasdaq. As of today, Walmart is the ninth largest company by market cap on the Nasdaq. How have WMT shares performed in 2025? Walmart shares have performed well so far this year. As of yesterdays close, WMT shares were up more than 25% for the year. At around $113.50 per share, they are near an all-time high. And another potential milestone is also within reach. As of yesterdays close, Walmarts market cap was just over $905 billion. That means the company is only about $95 billion away from becoming a trillion-dollar giant. The companys stock price now needs to rise only about 10.5% more to cross that milestone. Walmart is clearly hoping it can do that on the Nasdaq.
Category:
E-Commerce
Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. Earlier in the spring, the Federal Housing Administration (FHA) announced that, starting in late May 2025, H-1B visa holders and other non-permanent residents would be banned from taking out new FHA mortgages. The result? Non-permanent residentsincluding H-1B visa holderssaw their share of FHA mortgage locks crater from 3.8% in September 2024 to 0.2% in September 2025, according to Optimal Blue. This sharp pullback comes after their share of FHA mortgage locks had spiked between 2020 and 2024. Keep in mind that FHA mortgages make up a much smaller share of overall borrowers than, say, GSE conventional borrowers. Indeed, Optimal Blue data reviewed by ResiClub shows that FHA mortgages accounted for 22.0% of total U.S. mortgage-purchase locks in September 2025. Meanwhile, according to the New York Fed, as of June 2025, FHA mortgages represent just 12% of the nations $12.94 trillion in mortgage debt. While FHA has pulled back on lending to H-1B visa holders, as far as ResiClub can tell there hasnt been a similar changeat least not yetin the conventional mortgage space (Fannie Mae/Freddie Mac). This squeezes entry-level homebuying in some key housing markets already dealing with weak sales and too much supply, writes Eric Finnigan, president of Demographics Research at John Burns Research and Consulting. (JBREC published a report in October on the topic for its clients.) As an example of a potentially affected housing market, Finnigan points to Fayetteville, ARwhich is where Walmart is headquartered. Walmart HQ has reportedly paused new H-1B hiring in late 2025 after the Trump administration announced itd impose a $100,000 fee for certain new H-1B applications. Walmart HQ stops new H-1B hiring due to $100K fee. Lines up with research we sent to clients last week calling out Walmart HQ’s metro [Fayetteville] as 1 of ~15 local housing markets most exposed to H-1B changes, based on analysis of loan-level data by citizenship status, wrote Finnigan in October. While growth markets in the Southparticularly those with the higher levels of homebuilding, such as Dallas, TX; Fayetteville, AR; and Durham, NCmight feel a sharper housing-demand contraction from this specific FHA policy change, they arent necessarily the markets that would see the greatest softening if there were a broader pullback in H-1B activity. To run an apples-to-apples comparison that accounts for market size, ResiClub calculated H-1B visa petitions per 1,000 residents. The states with the highest exposure to high-salary H-1B workersand the housing and rental demand they generateinclude Washington, California, New York, New Jersey, Texas, and the District of Columbia. Click here for an interactive of the chart below Zooming out to the big picture, we are in something of an international migration bust following a boom in 2021-2024. Between summer 2021 and summer 2024, the U.S. sa a substantial upswing in net international migrationmuch of it coming through the Southern Border. As of July 2024, the U.S. population stood at 340.1 million, up 3.3 million from 336.8 million in July 2023. Of that population increase, 2.8 million (or 85%) came from net international migration. That international migration burst, of course, is behind us now. Recently, border crossings have plummeted. A July forecast by researchers at AEI expects that net international migration in 2025 will be somewhere between +115,000 and -525,000. What does this international migration slump mean for the U.S. housing market? All else being equal, an immediate and direct housing impact of fewer immigrants coming through the Southern Border, in my view, is lower aggregate rental demandspecifically at the lower end of the marketthan if that burst had continued. Rental markets likely to see the biggest impact are in metro areas that have experienced the most international immigration in recent years. In particular, major markets such as New York City, Miami, Dallas, and Houston could feel the greatest effects.
Category:
E-Commerce
For budding influencers, class is now in session. Jessica Henig, founder of Unlocked Branding, is rolling out Social Media University, a new platform launching today that promises to decode the influencer industry for the next wave of creators and industry professionals. The platform is free to join. We wanted it to be accessible for anyone who is interested in building a career in media and their network, Henig tells Fast Company. This community was built on after years of successfully building talent into top tier brands themselves, and weve seen such high demand from others who want to know where to start. Henig knows the formula, after helping shape some of the internets It-talent, including Alicia Breuer, Millie Leer, Pia Mia, and Montana Brown among them. Those who sign up can expect a mix of online and in-person interactive masterclasses with leading industry voices, seminars, trips, and community events, as well as mentorship and behind-the-scenes access to Unlocked Brandings global network of creators and partners. The missing link from young people, over the past few years especially, has been that they are missing in person community, says Henig. Working for yourself can be isolating sometimes and we want to get everyone in the same room to foster connections and creativity. With rising unemployment and a college degree no longer guaranteeing a career path, the creator economy has become a bright spot for young people navigating a bleak job market. The number of creators globally is expected to grow at a compound annual rate between 10 and 20% and the total addressable market is expected to increase to a projected $500 billion by 2027, according to Goldman Sachs. Gen Z and Gen Alpha are fully bought in. Over half of Gen Z wants to become influencers, according to a Morning Consult survey. A 2024 Whop survey found that the top two career aspirations among Gen Alpha are YouTuber and TikTok creator. With the influencer industry being so new in comparison to more ‘traditional’ career and education paths, theres a huge education context gap when it comes to breaking into the industry, says Henig. Ive built talent up from the start of their careers, many of which started as early as 16 years old, and found that the intense experiential nature of the social media industry set them up for incredible success and long term career paths in the real worldwithout having to go to a traditional university route. For those after a traditional education experience, Syracuse University recently announced its new Center for the Creator Economy, looking to train the new class of influencers, streamers, podcasters, and YouTubers. Still, one of the biggest selling points of a career in content creation is precisely the fact it doesnt require a degree or hundreds of thousands of dollars of student debt that come with one. Starting out as a content creator has never been easier, you mostly need a phone and a dream. Yet, because of the low barrier to entry, the industry is saturated and some expert guidance could be that all-important leg up. People should sign up if they want valuable insight, to understand the economics of the industry and how it affects strategy and work, says Henig. And a community of people that share similar values to want to stay at the forefront of what is moving the needle.
Category:
E-Commerce
Like many American cities, the streetscape in downtown Brooklyn was for a long time very heavy on the street: a great place to park a car or drive through. But over the past 20 years, the area itself has gone from being a 9-to-5 shopping and business district to one where a growing number of people live 24-7. Since 2004, more than 22,000 housing units have been added to the neighborhood, changing its character so much that its old streetscape just wasn’t cutting it. “There was a real evolution of the neighborhood,” says Regina Myer, president of the Downtown Brooklyn Partnership (DBP), a business improvement district representing the area’s business owners, shopkeepers, and, increasingly, residential developers. “Frankly, the construction fences were down, and it was really time to look at the public realm afresh.” So in late 2018, DBP hired the urban design and architecture firms WXY and Bjarke Ingels Group (BIG) to come up with some new ideas for Downtown Brooklyn’s streetscape. Myer says her organization wanted “infrastructure that really focused in on the pedestrian and mobility, shared streets, increased biodiversity, and also really making sure this was a bold plan for Brooklyn, that it didn’t look like something generic.” [Photos: courtesy Downtown Brooklyn Partnership] Now, after seven years of planning and prototypes, the designs have been fully installed. As these before-and-after images show, the transformation has been dramatic. The formerly congested streets of downtown Brooklyn have been augmented with planters, bollards, street bistro seating, and other traffic calming measures, as well as increased greenery and public open space. Redesigned tree pits add a larger and more refined space for street trees to grow, and curving benches follow cobblestone paving that hugs the edge of the sidewalk. Compare to the preexisting street furniture, which Myer calls “mean,” the new spaces invite pedestrians to sit and experience the city around them. [Photo: Hai Zhang/Downtown Brooklyn Partnership] Prototyping public space This work came about incrementally at first. WXY and BIG’s design guidance was first tested on the streetscape outside a Studio Gang-designed residential tower that was completed in 2021. Working with the city’s Department of Transportation during the project’s mid-pandemic construction, DBP convinced the city to allow sidewalks on two sides of the building to be widened to make space for these new streetscape amenities as an experimental pilot project. The resulting streetscape sparked a desire for other, more officially sanctioned improvements. A second pilot project was then built outside the city’s first all-electric skyscraper, and officials were fully on board. “They liked it so much that they actually asked us to go through the [Public Design Commission] process for a plan for the entire neighborhood,” Myer says, referring to the path for making improvements to public and civic spaces in the city. [Photos: courtesy Downtown Brooklyn Partnership] This work led to the 2021 release of a Public Realm Action Plan covering more than 40 blocks in the area. In 2023, the mayor’s office dedicated $40 million in funding to put the plan into action. “The prototyping process really worked for us,” Myer says. And in the four years since the plan was releasedrelative light speed in the realm of public space projectsit has materialized on sidewalks and shared streets across downtown Brooklyn. Bright yellow planters now sit in the spaces where cars once parked, carving out niches for outdoor seating and dining. Teardrop-shaped tree planters add flourish to the edges of sidewalks where trash once gathered. Swooping benches teem with life along streets packed with an increasing mix of uses. [Photos: courtesy Downtown Brooklyn Partnership] This could be just the start of a broader transformation in the area. WXY and BIG’s design has now become a system that developers can use to improve the streetscape of future projects. Myer says the plan was strategically minimal in its proposed interventions. The redesign requires little large-scale construction, utilizing existing street poles, for example, and making the most of the existing width of the sidewalk. Aside from the two pilot projects, no other sidewalks were extended, “because you know how gnarly that can get,” Myer says. The plan has sailed through approvals and construction, and downtown Brooklyn’s streetscapes are almost unrecognizable from what they looked like just a few years ago. Myer calls it an effort that appeals across the spectrum, from business owners to building tenants to the growing residential population to visitors and tourists. “What we really were seeking here was to use our existing space better for people,” she says. [Photos: courtesy Downtown Brooklyn Partnership]
Category:
E-Commerce
Rare earth minerals are so ubiquitous and critical to much of todays technology, that tonights dinner might not have made it to the table without them. And according to USA Rare Earth CEO Barbara Humpton, for decades, the world has sat back and let China become the sole supplier of these minerals, even as the country has used its dominance in this market as a geopolitical game piece. We believe its time to take the game piece off the board,” Humpton said at last months World Changing Ideas Summit, cohosted by Fast Company and Johns Hopkins University in Washington, D.C. USA Rare Earth is wholly dedicated to bringing rare earth metals mining to the U.S., and changing this dynamic is humanly possible, says Humptonthough it will require the support of governments, academia, and private industry. “We’re gonna have to use some real strategy to actually turn the tide,” she says. It may be difficult, but there are already some early signs of progress, as governments that include the U.S., Japan, and the European Union have collaborated to agree on supporting a rare earth supply chain beyond China. Getting academia involved to educate students in magnet-making and rare earth processing is also a priority, Humpton says, along with securing the support of major industries that rely on these minerals, like the automotive sector. A good chance to turn this around According to Humpton, many countriesthe U.S. includedwere perfectly happy to let China dominate this market, because it was cheaper and less messy for them. But Chinas behavior in recent years has led to this moment, she says, adding that there are many benefits to bringing this type of mining to the U.S., including the potential for economic development, and addressing some environmental concerns to mitigate consequences and utilize cleaner extraction techniques. Because we are in an area where it’s a relatively small market, a relatively small number of companies, we have a good chance to turn this around, she says. If we don’t get started, we’ll never get done.
Category:
E-Commerce
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