Firsts $490M Volume Slips to 208th as Stock Dips 1.58% Amid Supply Chain Shifts and Regulatory Uncertainty

On September 23, 2025, , ranking 208th among U.S. equities for the day. , reflecting mixed market sentiment ahead of the close.

Analysts highlighted recent as a key factor influencing investor behavior. A shift in procurement strategies toward has sparked debate about potential cost implications. While the company emphasized long-term , near-term operational flexibility remains under scrutiny, particularly as global remain volatile.

also contributed to market dynamics. A proposed framework for incentives was under review by federal agencies, creating uncertainty about future priorities. This regulatory ambiguity has led to cautious positioning among , who are reassessing exposure to .

To run this back-test accurately, the following parameters require confirmation: the market universe (e.g., U.S. equities vs. other exchanges), data fields for ranking (raw volume vs. adjusted metrics), execution timing (intraday vs. close-to-close), weighting methodology (equal-weight vs. other schemes), and transaction cost assumptions. If the default settings—U.S. equities ranked by yesterday’s raw volume, equal weighting, close-to-close execution with zero explicit costs—align with requirements, the back-test can proceed with standard data protocols.