Why Walmart Stock Is Trading Higher Today

Walmart Inc WMT shares are trading higher on a report the company's Amazon Prime competitor will launch in July.

Walmart's new subscription service reportedly costs $98 a year and will be called Walmart+. Some of the benefits are expected to be same-day grocery deliveries and other items, fuel discounts at Walmart gas stations and early access to product deals, according to Recode.

America's largest retailer by sales, Walmart operates over 11,500 stores under 56 banners, selling a variety of general merchandise and grocery items. In the United States, around 56% of sales come from grocery, 34% from general merchandise, and 10% from health and wellness items.

Walmart's stock was trading 4.38% higher at $123.98 at the time of publication on Tuesday. The stock has a 52-week high of $133.38 and a 52-week low of $102.