Walmart Inc. (WMT) shares gained nearly 7% in Tuesday trading after a report late in the trading session said that the large retailer was prepared to launch its own version of Amazon.com Inc.'s (AMZN) Prime membership. Recode reported (https://www.vox.com/recode/2020/7/7/21314767/walmart-plus-grocery-delivery-amazon-prime-membership-loyalty-program-walmart) Tuesday that Walmart expects to launch a membership plan this month that will provide same-day delivery for groceries and some other items, discounted fuel at Walmart gas stations and early access to some deals. The article said that Walmart plans to charge $98 as year for a Walmart+ subscription, less than the $119 Amazon charges for an annual Prime subscription, based on multiple unnamed sources. Walmart stock jumped immediately after the report was published, and closed the day's session up 6.8% at $126.95.
-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com
Any recommendation, opinion or advice regarding securities or markets contained in such material does not reflect the views of TD Ameritrade, and TD Ameritrade does not verify any information included in such material.