Applovin Surges 4.52% on Record $47.41 Billion Volume Outpacing Market Activity by 719.91%

On September 19, 2025, , , . This unprecedented liquidity positioned Applovin as the most actively traded stock in the market, reflecting intense investor interest amid strategic developments in its monetization ecosystem.

Recent disclosures highlighted Applovin's expansion into , signaling a pivot toward higher-margin services. Analysts noted that the company's focus on real-time analytics and personalized user engagement could enhance long-term revenue visibility. Additionally, regulatory updates indicated progress in resolving in key markets, potentially easing operational headwinds.

To run this back-test accurately I need a bit more detail and a couple of clarifications: 1. Universe • Do you want to consider all U.S.–listed common stocks (NYSE + NASDAQ + AMEX), or should we restrict the universe to an index such as the S&P 500? 2. Rebalancing mechanics • Each trading day we identify the 500 highest-volume stocks, buy them at that day’s close (or next day’s open), and liquidate them one trading day later – is that the intended workflow? 3. Position sizing • Equal-weight across the 500 names each day (i.e., ? 4. Transaction costs & slippage • Should we assume zero trading cost, or apply a transaction-cost estimate (e.g., ? 5. Benchmark (optional) • Any specific benchmark you’d like the strategy compared against (e.g., SPY)? Once I have these points confirmed I can generate the retrieval plan, pull the volume data and run the back-test.