DICK'S Trading Volume Surges 47% to 288th Market Rank as Merger Hopes Rise and Antitrust Risks Loom

On August 22, 2025, DICK'S Sporting Goods (DKS) reported a trading volume of 0.36 billion, a 47.02% increase from the previous day, ranking it 288th in market activity. The stock closed with a 1.89% gain.

Foot Locker shareholders overwhelmingly approved the merger with DICK'S, with 99% of votes cast in favor. The deal, announced in May, allows Foot Locker shareholders to choose between $24 in cash or 0.1168 shares of DICK'S stock per share held. Final approval awaits regulatory clearance, with the transaction expected to close by year-end 2025. Mary Dillon, Foot Locker's CEO, emphasized the strategic benefits, including expanding sneaker culture and enhancing omnichannel capabilities.

Antitrust scrutiny remains a key risk. U.S. Senator Elizabeth Warren recently urged the FTC to block the merger, citing concerns over reduced competition and potential price hikes. The combined entity would control over 15% of the U.S. sporting goods market, raising regulatory alarms. Despite this, DICK'S and Foot Locker remain optimistic about completing the deal under standard closing conditions.

Backtested data from 2022 to 2025 shows that a strategy of holding high-volume stocks for one day yielded a 31.52% total return, with a 0.98% average daily gain. The approach achieved a Sharpe ratio of 0.79, though it faced a maximum drawdown of -29.16% during market declines.