Walmart to Replace AstraZeneca in Nasdaq-100 Index on January 20

Walmart will replace British drugmaker AstraZeneca in the Nasdaq-100 Index on January 20, the exchange operator announced on Friday. This significant index change follows the retail giant's decision in November to shift its longtime listing from the New York Stock Exchange to its main rival, Nasdaq.

Index Inclusion Details

The transition will be comprehensive, with Walmart joining multiple Nasdaq indices simultaneously. The company will be included in three key indices before market open on January 20:

Index:	Status
Nasdaq-100 Index:	Replacing AstraZeneca
Nasdaq-100 Equal Weighted Index:	New inclusion
Nasdaq-100 Ex-Tech Sector Index:	New inclusion

Market Context and Rationale

Companies typically change listing venues when they identify better alignment with an exchange's investor base, technology and services, or when they seek to reduce costs tied to listing and compliance. The attractiveness of the Nasdaq-100 index has been cited as a key reason by several companies that transferred from NYSE to Nasdaq in 2025.

The Nasdaq-100 index includes 100 of the most valuable non-financial companies listed on the Nasdaq exchange, featuring prominent technology giants such as Nvidia and Apple. This prestigious index positioning provides companies with enhanced visibility among institutional investors and index fund inclusion.

Recent Market Performance

Current US market data shows mixed performance across major indices. Top gainers in the S&P 500 include Builders FirstSource at 124.66 (up 12.01%), Intel at 45.55 (up 10.80%), and Vistra at 166.37 (up 10.47%). Meanwhile, notable decliners include Las Vegas Sands at 58.95 (down 4.77%) and CoStar Group at 58.49 (down 4.68%).

This index reshuffling represents a significant milestone for Walmart as it transitions to its new exchange home and gains access to the influential Nasdaq-100 index ecosystem.

Walmart will officially join the prestigious Nasdaq-100 Index on January 20, replacing British pharmaceutical company AstraZeneca in a significant market development announced by the exchange operator on Friday. This transition marks a key milestone in Walmart's strategic shift from its longtime New York Stock Exchange listing to Nasdaq, a move the retail giant announced in November.

Index Inclusion Details

The comprehensive index changes will take effect before market open on January 20, with Walmart securing positions across multiple Nasdaq indices:

Index:	Action
Nasdaq-100 Index:	Walmart replaces AstraZeneca
Nasdaq-100 Equal Weighted Index:	Walmart inclusion
Nasdaq-100 Ex-Tech Sector Index:	Walmart inclusion

Strategic Motivations for Exchange Transfers

Companies typically pursue listing venue changes for several strategic reasons. These include seeking better alignment with an exchange's investor base, accessing superior technology and services, or reducing costs associated with listing and compliance requirements. The decision reflects careful consideration of operational and financial benefits.

Nasdaq-100 Index Appeal

The Nasdaq-100 Index has emerged as a particularly attractive destination for major corporations. The index includes 100 of the most valuable non-financial companies listed on Nasdaq, featuring technology leaders such as Nvidia and Apple. Several companies that transferred from NYSE to Nasdaq in recent periods have specifically cited the attractiveness of Nasdaq-100 inclusion as a key motivating factor.

Market Significance

Walmart's inclusion in the Nasdaq-100 represents a notable shift in the index composition, bringing one of America's largest retailers into an index traditionally dominated by technology companies. The move underscores the evolving nature of major market indices and the strategic considerations driving corporate listing decisions in today's competitive exchange environment.