A number of companies are developing new and innovative technologies. While older companies may get overlooked during a bull market, many companies can use proven new technologies to improve their business lines.
That’s why, while banking hasn’t fundamentally changed, the rise of ATMs has led to a decrease in tellers. And online banking has further reduced the need for a physical location for banking services.
In retail, Walmart (WMT) has been an early adopter of technologies like RFID tags to keep a tight eye on inventory. Now, the company is joining the ranks of the metaverse.
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The company has opened a superstore of its own, in the metaverse owned by Roblox (RBLX). That gives the company a place to show its real-world wares to a younger generation spending more time online.
While the move may not substantially change the bottom-line results anytime soon, it may give the firm an early edge for this next-generation internet space ahead of other retailers.
Action to take: Shares are attractive here, as a slowing economy tends to be strong for Walmart’s core business. Plus, shares now yield 1.7 percent at current prices.
For traders, shares will likely hold up better here than other retailers, especially during the holiday season. The January $145 calls, last going for about $3.05, offer mid-double-digit returns should shares trend higher.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.