Goldman Sachs Shares Tumble 1.36% as Trading Volume Plunges to 80th in U.S. Liquidity Rankings

On October 1, 2025, Goldman Sachs (GS) closed at a 1.36% decline with $1.41 billion in trading volume, ranking 80th among U.S. stocks by liquidity. The firm's shares underperformed broader market benchmarks as mixed earnings reports from key financial services peers weighed on investor sentiment. Analysts noted reduced institutional trading activity in fixed-income derivatives and equity underwriting divisions, contributing to the volume contraction.

Recent regulatory scrutiny over compliance protocols in its asset management arm intensified concerns about potential operational costs. While the firm confirmed ongoing internal reviews, it emphasized no material impact to Q3 financials. Market participants interpreted the dip as a technical correction following a three-week rally driven by improved capital market activity in late September.

To run this back-test accurately I need a bit more detail about how you’d like it structured: 1. Market universe • Which exchange(s) should we draw the “top-500 by volume” list from (e.g., all U.S. listed stocks, only NYSE + NASDAQ, a specific index, etc.)? 2. Portfolio construction • Equal-weight all 500 names each day, or weight them by something else (e.g., proportional to their dollar volume)? 3. Transaction timing • Buy at that day’s close and sell at next day’s close (close-to-close)? • Or buy at today’s open and sell at tomorrow’s close/open? 4. Practical frictions • Ignore trading costs and slippage, or apply a standard estimate? 5. Benchmark (optional) • Would you like the results compared to a benchmark such as the S&P 500? Let me know your preferences and I’ll set up the back-test accordingly.