Cloudflare Shares Jump 2.12% on $430M Volume, Climb to 254th in Market Activity

On September 15, 2025, , ranking 254th in market activity. The stock’s performance followed a strategic update highlighting expanded cloud infrastructure capabilities and a renewed focus on AI-driven cybersecurity solutions.

Analysts noted that the company’s recent product roadmap revisions, emphasizing scalable edge computing platforms and enterprise-grade data protection tools, reinforced investor confidence. These developments align with growing demand for hybrid cloud solutions amid evolving regulatory requirements in data privacy sectors.

Market participants also observed heightened interest in Cloudflare’s partnerships with major AI model developers, which are expected to drive recurring revenue streams. The firm’s Q3 guidance, while not disclosed in detail, reportedly underscored optimism about client retention rates and cross-selling opportunities in its expanding service portfolio.

To run this back-test accurately I need to lock down a few practical details about the trading rule and the data universe:

1. Stock universe • All U.S. common stocks (NYSE + NASDAQ + NYSE Arca) – is that what you have in mind? • Or a specific index membership (e.g., Russell 3000, S&P 1500, etc.)?

2. Ranking logic & timing • Should the “top-500 by daily trading volume” be determined from the previous day’s volume, then positions are opened at today’s open and closed at today’s close? • Or would you prefer open-to-open (buy at today’s open, sell at next day’s open)?

3. Weighting & capital allocation • Equal-weight across the 500 names each day? • Or volume-weighted / dollar-volume-weighted?

4. Trading frictions • Assume zero transaction costs and no slippage? (Typical for a first-pass test.) • Or do you want to include, say, a 2 bp bid-ask cost each side?

Once I have these details I can fetch the data and run the 2022-01-01 to present back-test.