An analyst from Cathie Wood-led Ark Investment Management is positive about Walmart Inc‘s (NYSE:WMT) new partnerships for drone deliveries.
What Happened: Last week, Walmart announced a new partnership with Alphabet Inc‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) drone delivery venture Wing to deliver from two stores in the Dallas metro area. Walmart is also experimenting with other drone companies including Zipline, Flytrex and DroneUp.
Thus far, Walmart has completed over 10,000 drone deliveries across seven states and 36 stores in the U.S. beating the 100 drone deliveries by ecommerce giant Amazon. However, these 36 stores account for less than 1% of ...