Walmart has become the first traditional retailer to hit a $1tn (730bn) market valuation, propelling it into a small group dominated by tech firms.
The milestone reflects the US retail giant's booming e-commerce business and its success in drawing in price-conscious shoppers. Wall Street has also responded enthusiastically to its investments in artificial intelligence (AI).
Walmart joins an elite club of mostly tech firms, including Nvidia and Alphabet, with valuations over $1tn.
The company's share price, which has soared in recent months, rose by more than 3% on Tuesday.
10 Comments
Almacca@aussie.zone · 33 pts · 192d
A more accurate headline would be: "Walmart - World's biggest wage thief."
WanderWisley@lemmy.world · 21 pts · 192d
$1 trillion in value, yet can’t pay their employees a livable wage.
janNatan@lemmy.ml · 14 pts · 191d
They reached a trillion because they don't pay livable wages.
hesh@quokk.au · 13 pts · 192d
Remember when we had local stores instead of Walmart, and small town economies were alive?
Glad we traded that for free shipping and oligarchy.
gravitas_deficiency@sh.itjust.works · 8 pts · 192d
Ew :(
melsaskca@lemmy.ca · 7 pts · 191d
When it comes to supporting the social fabric of society and not just profit, Costco has them easily beat. The Gulf of Mexico should be renamed to the Gulf of Kirkland!
whereIsTamara@lemmy.org · 2 pts · 191d
I am ok with this.
whereIsTamara@lemmy.org · 4 pts · 191d
Rolling up prices.
WolfmanEightySix@piefed.social · 3 pts · 192d
Will they pay like $1tn company?
duelistsage@sh.itjust.works · -8 pts · 192d
Really? Customers actually care about value instead of getting ripped off?
Color me shocked.