Shares of Vizio Holding Corp. rocketed higher on Tuesday on a report that Walmart Inc. was in talks to buy the TV maker for at least $2 billion in an effort to deck out its stores with more screens where it can display ads.
The news was reported by the Wall Street Journal. Walmart did not immediately respond to a request for comment.
Vizio’s
VZIO,
stock jumped 24.7% on Tuesday, its largest one-day percentage increase since Nov. 10, 2023, when it jumped 26.5%, according to Dow Jones Market Data. Shares began trading in 2021.
The Journal noted that a deal could still fall through, since the talks were ongoing. But any deal would highlight the retail industry’s increased focus on so-called “retail media” — or the business of having outside brands pay a retailer to advertise, either in stores or online the retailer’s website or apps.
Shares of Walmart
WMT,
were down around 1%.
