eBay Shares Slide 1.8% on 232nd-Ranked $430M Volume Amid Sustainability-Driven Runway Expansion

On September 12, 2025, , ranking 232nd in market activity. The decline came amid broader tech sector volatility, though the stock's performance remained tied to its latest sustainability initiative. eBay announced a major expansion of its "Endless Runway" program, with over a dozen designers from New York, London, Milan, and Paris incorporating pre-loved pieces into their S/S2026 runway shows. The collaboration with fashion capitals and industry councils underscores the company's commitment to circular fashion, .

The initiative features live shoppable shows in New York and London, streamed via Instagram and eBay Live, with proceeds benefiting the CFDA and BFC Foundations. By positioning pre-loved fashion on major runways, eBay aims to solidify its role in the circular economy while attracting eco-conscious consumers. The timing coincides with rising demand for sustainable retail solutions, though the stock's immediate reaction reflects broader market skepticism toward sustainability-driven narratives in the tech sector.

To run this back-test accurately we need to make a few practical choices first, because: 1. The current back-test engine evaluates one ticker (e.g., an index, an ETF, or an individual stock) at a time. 2. To implement a “top-500-by-volume” portfolio we would have to (a) obtain the daily volume for every tradable U.S. stock, (b) sort them each day, (c) construct a 500-stock equal-weight basket, and (d) rebalance it daily. That would require thousands of ticker-level data pulls per day, which is beyond our tool limits in a single session. A workable approach is to approximate the strategy in one of two ways: A. Use an existing broad-market ETF (e.g., SPY, VTI) as a proxy. – This effectively answers: “What would I earn if I simply held the broad market instead of explicitly ranking by volume?” B. Restrict the universe to a manageable subset (e.g., the current S&P 500 constituents). – We can then pull daily volume for those 500 names, rank them each day, form the equal-weight basket of the top-volume stocks, and compute the daily 1-day-hold return. – This will still involve 500 ticker data calls but is feasible if we do it in batches. Please let me know which path you prefer (A or B). If you choose B, kindly confirm: • Use today’s S&P 500 constituent list as the fixed universe? • Equal-weight the chosen names at each open? • Ignore transaction costs and slippage? • Analysis period: 2022-01-03 to 2025-09-12 (today)? Once you confirm, I’ll build the data-retrieval plan and launch the back-test.