The Newest Stock in the Nasdaq-100 Soared 549,000% Since Its IPO, and It's Still a Buy Right Now, According to Wall Street (Hint: Not Strictly a Tech Company)

The Nasdaq Composite is one of the widely followed stock market indexes in the U.S. The expansive tech-centric index tracks the performance of roughly 3,000 stocks listed on the exchange. The Nasdaq-100 is a subset of that index, tracking the performance of roughly 100 of the largest non-financial companies on the Nasdaq stock exchange. To be a component of the Nasdaq-100, a company must meet the following prerequisites:Walmart (NASDAQ: WMT) is the most recent addition to the Nasdaq-100, and will be joining the benchmark before the market opens on Jan. 20, replacing biopharmaceutical company AstraZeneca (NASDAQ: AZN). This comes on the heels of Walmart's decision to move its listing to the Nasdaq last month. Since its IPO in 1970, the stock has soared 549,000% (as of this writing).The company requires little introduction. It's the world's largest retailer when measured by sales, according to the National Retail Federation. Its performance isn't relegated to some dusty past, either. Walmart has gained 28% over the past year, and the stock is still a buy right now, according to Wall Street.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool