Freeport-McMoRan's $3.1B Volume Ranked 28th as Shares Drop 6.19% Amid Supply and Regulatory Pressures

On September 25, 2025, Freeport-McMoRan (FCX) saw a trading volume of $3.10 billion, ranking 28th in market activity. The stock closed down 6.19%, marking its steepest decline in recent months amid mixed macroeconomic signals.

Recent developments suggest intensified pressure on FCX from sector-specific dynamics. A surge in copper hedging activity by major producers has raised concerns about near-term supply stability. Analysts highlight that the company’s exposure to concentrated long-tenure assets may amplify sensitivity to sudden shifts in commodity pricing mechanisms.

Market participants are closely monitoring the interplay between FCX’s production guidance and evolving regulatory frameworks in key mining jurisdictions. Recent policy adjustments in resource taxation have triggered valuation recalibrations across the base metals complex, with technical indicators showing bearish divergence in FCX’s short-term momentum patterns.

To run this back-test accurately I need a couple of clarifications: 1. Universe: Should the “top 500” be chosen from all U.S. listed common stocks (excluding ETFs/OTCs), or from a narrower list such as the S&P 1500 constituents? 2. Trade price convention: Enter at next day’s open, exit at that same day’s close (1-day holding period), or Enter at today’s close, exit at tomorrow’s close? (The first choice is the more common implementation for volume-rank strategies.) Once I have these details I can generate the data-retrieval plan and start the back-test.