Walmart Shares Gain as It Looks to Join TikTok Party
Author: Tim Phillips
Date: December 5, 2023
The “Beast of Bentonville”, and the world’s largest retailer by revenue, Walmart Inc (NYSE: WMT) saw its shares advance 4.5% on Thursday.
Shares were boosted by news that the company is looking to join Microsoft Corporation (NASDAQ: MSFT) in jointly bidding for social media phenomenon TikTok.
The retail giant is continuing to grow, with Walmart’s latest earnings showing how well the company is adapting to the new retail environment.
Strengthening its omni-channel offering, Walmart’s second-quarter e-commerce sales were up a stonking 97% year-on-year.
Working with e-commerce shopfront software provider Shopify Inc (NYSE: SHOP) on providing third-party sellers with an online presence, I feel Walmart looks likely to only strengthen its position in the retail space.
Add in the fact that Walmart is a Dividend Aristocrat (having paid rising dividends for 47 consecutive years, yielding 1.6%) and growth and a level of income go hand-in-hand.
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