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People walking outside a Walmart a store in Washington, D.C.
Nicholas Kamm/AFP via Getty Images
Walmart
stock is rising following the news that the retail giant is pushing into fintech with its latest partnership, the latest in a string of moves diversifying away from its core business.
Walmart (ticker: WMT) announced on Monday that it would create a fintech start-up with Ribbit Capital, a backer of Robinhood and Credit Karma. The new company, which will be majority owned by Walmart, aims to “deliver tech-driven financial experiences tailored to Walmart s customers and associates.”
Walmart was up 1.5%, to $149.44, in trading Tuesday. ....

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