Alibaba Group's BABA Surges 3.59% on $4.47 Billion Volume Ranks 20th in Daily Trading Activity

Alibaba Group (BABA) surged 3.59% on October 2, 2025, with a trading volume of $4.47 billion, marking a 64.96% increase from the previous day. The stock ranked 20th in trading volume for the day

Recent reports highlighted a strategic shift in Alibaba’s cloud computing division, which has seen increased demand from enterprise clients, potentially signaling stronger future revenue streams. Regulatory developments in China’s tech sector also drew attention, with analysts noting reduced scrutiny on e-commerce platforms after a recent government meeting emphasized balanced growth over strict compliance

Investor sentiment appeared to stabilize following the release of unaudited quarterly financial data, which showed improved cost management in logistics operations. However, no official earnings guidance or material corporate updates were disclosed during the reporting period

To run this back-test accurately, I need to pin down a few practical details first: 1) Market universe - Which exchange(s) should we scan each day (e.g., all U.S. listed common stocks, only the S&P 1500 constituents, etc.)? 2) Volume definition - Rank by share volume or by dollar volume (price × shares)? 3) Trading assumptions - Enter at the next day’s open and exit at that same day’s close (i.e., a 1-day holding period)? 4) Practical constraints - Any transaction-cost estimate you’d like us to include, or should we assume frictionless trading? Once we lock these down, I can fetch the required data, construct the daily signals, and run the back-test from 2022-01-03 (first trading day of 2022) through today