Edible Garden Wanes on Walmart Distribution Deal

OKXICE, a joint venture between OKX and Intercontinental Exchange (ICE), plans to list tokenized versions of 63 U.S. stocks, including Nvidia, Tesla, and Apple, on a blockchain platform. The SEC's new 'innovation exemption' allows this trading, with a 0.25% daily volume cap per stock. Trading may begin as early as November, pending no objections from listed companies. Tokenized stocks will trade 24/7, but liquidity and price accuracy may vary, especially during weekends.

Walmart settled an $80M+ case with Structurlam, a Canadian timber manufacturer, over contract disputes related to Walmart's new head office. The US Bankruptcy Court approved the settlement in July. Structurlam's parent company had sold Walmart a stake, and the retailer had agreed to buy large quantities of timber. Walmart ended the contract in 2023, citing delivery and quality issues. Structurlam's assets were later bought by Mercer International for $81.1M.

AIG units must cover Walmart's defense costs in over 2,400 opioid lawsuits, per an Arkansas appeals court ruling. The court found that the policies' definition of 'accident' as an 'occurrence' obligates AIG to defend Walmart. The ruling reverses prior wins for insurers in other states.

Groundwork Collaborative released a report detailing Walmart's patents for AI-driven pricing strategies, including monitoring customer behavior and adjusting prices. Walmart denies using personalized pricing, but Groundwork argues patents suggest otherwise. Walmart's Sparky AI increases average order value by 40%, according to the company. Walmart's market cap is $833 billion.

Walmart is investing $300 million in a new fulfillment center in Turtlecreek Township, Ohio, creating 300 jobs. The facility will focus on large items and support next-day delivery. Local officials praised the investment for bringing jobs and economic growth. Walmart already operates another fulfillment center in Monroe, Ohio.

Walmart's U.S. e-commerce sales rose 24% in its latest quarter, with store-fulfilled delivery up 40% and marketplace sales growing over 50%. The company expanded 30-minute-or-less delivery to 33 markets. Profitero found Amazon remains the lowest-priced major online retailer, but Walmart has narrowed the price gap to 4%. Walmart+ costs $98/year vs. Amazon Prime's $139, with free delivery on orders over $35. Amazon is expanding physical grocery stores to compete with Walmart's footprint.