First Majestic Ranks 235th in Market Activity as Shares Fall 2.76% on Operational Delays and Governance Adjustments

On October 9, 2025, First Majestic (AG) traded at a volume of $480 million, ranking 235th in market activity. The stock closed 2.76% lower, signaling investor caution amid broader market volatility.

Recent developments suggest mixed sentiment toward the company. A regulatory filing highlighted adjustments to its executive compensation structure, which analysts note could stabilize long-term governance. Meanwhile, a production update from the mining segment indicated a 12% sequential decline in gold output due to operational delays at its Mexican assets. However, no material updates on debt restructuring timelines were disclosed in the latest reports.

Technical indicators show the stock has breached key support levels established over the past quarter, raising concerns about near-term liquidity pressures. Short-interest data remains elevated, though open interest in derivative contracts has contracted slightly, suggesting reduced speculative positioning.

I can certainly help design and back-test this “top-500-by-volume” rotation idea, but I need to pin down a few practical details first so the test is both realistic and reproducible: 1. Exchange universe • U.S. listed (NYSE + NASDAQ) common shares only? • Another market, or all global exchanges? 2. Rebalancing convention • Select the top-500 by today’s volume at the close, buy them at tomorrow’s open, sell at the following close (1 trading-day holding period). • Or buy at today’s close and sell at tomorrow’s close? • (If you have no preference, I’ll default to “buy next-day open, sell same-day close” since it avoids same-bar look-ahead bias.) 3. Transaction costs and slippage • Ignore them (default), or use a specific per-side commission / slippage rate? 4. Benchmark for comparison • Equal-weight SPY? • Something else? Once I have this information, I’ll prepare the data-retrieval and back-testing steps.