JD's Stock Plunges as Trading Volume Dives 28.47 to 156th Rank Amid Logistics and Regulatory Concerns

On September 10, 2025, , . , reflecting subdued investor interest.

Recent developments highlighted include adjustments in the company’s logistics network optimization strategy, which analysts suggest may impact short-term operational efficiency. Additionally, regulatory scrutiny over data privacy practices in e-commerce platforms has intensified, creating a cautious sentiment among market participants. These factors, combined with broader macroeconomic uncertainties, contributed to the stock’s underperformance.

To make sure I backtest the strategy exactly as you intend—and so that I retrieve only the data we really need—please confirm the following default assumptions I would apply: 1. Universe: all primary-listed U.S. common stocks (no ETFs, ADRs, preferreds). 2. Ranking logic: for each trading day t we rank stocks by the previous day’s (t-1) dollar trading volume and pick the top 500. 3. Execution: open an equal-weighted long position in those 500 names at the open of day t, exit at the close of day t (1-day holding period). 4. Transaction costs, slippage and commissions: ignored (0 bps) unless you specify otherwise. 5. Corporate-action adjusted prices (split- and dividend-adjusted). If anything should be different (e.g., same-day close ranking, include ETFs, add trading costs, etc.), let me know. Otherwise I’ll pull the required open, close and volume data for every U.S. stock from 2021-12-31 through today and run the back-test.