Dayforce's Tumultuous Trade Rising Volume Fading Price and 487th Liquidity Rank as Cloud HR Push Gains Momentum

On September 17, 2025, Dayforce Holdings (DAY) closed down 0.96% despite a surge in trading activity. The stock recorded a volume of $250 million, marking a 313.54% increase from the previous day’s volume and ranking 487th in market liquidity. This performance reflects heightened investor interest amid evolving market dynamics.

Recent developments indicate a shift in strategic focus for Dayforce, with analysts noting increased emphasis on cloud-based HR solutions. While no direct earnings updates were disclosed, the company’s recent product roadmap highlights expanded integration capabilities, potentially positioning it to capture a larger share of the enterprise software market. However, mixed sentiment persists as investors await concrete financial guidance.

To run this back-test accurately I need a bit more detail on your intended rules and the data universe: 1. Market universe • Do you mean all U.S. exchange-listed common stocks (NYSE + NASDAQ + Amex), or another market? 2. Rebalancing timing • “Hold for 1 day” – should we a) Buy at today’s close and sell at tomorrow’s close, or b) Buy at tomorrow’s open and sell at tomorrow’s close? 3. Portfolio construction • Equal-weight the 500 names each day, or weight by something else (e.g., volume, dollar volume)? 4. Transaction costs / slippage • Should we include brokerage commission or an assumed bid-ask spread? 5. Benchmark (optional) • Any benchmark you’d like reported alongside the strategy? Because the dataset involves thousands of tickers traded daily, the full back-test will require a broad market data feed. If this level of detail is more than you need, we can simplify (e.g., restrict to S&P 500 constituents, or test on a daily ETF proxy). Let me know your preferences and I’ll proceed.