MSTR Shares Drop 1.61% on $3.22 Billion Turnover, Ranking 21st in Market Activity Amid Volatility

On September 17, 2025, Strategy (MSTR) closed down 1.61% with a trading volume of $3.22 billion, ranking 21st in market activity. The stock’s performance coincided with broader market volatility, though no direct catalysts were identified in the filtered news flow.

Recent developments suggest limited near-term visibility for the asset. Analysts noted mixed sentiment around macroeconomic signals, with some observers highlighting potential risks from evolving regulatory frameworks in the technology sector. However, these narratives remain speculative and lack immediate actionable implications for Strategy’s valuation structure.

To build an accurate back-test, clarification is required on several parameters. Key questions include the appropriate universe of U.S. equities (NYSE, Nasdaq, Amex) and assumptions regarding transaction costs, slippage, and execution timing. The methodology proposes an equal-weighted basket of the top 500 daily volume stocks, held for one trading day with daily rebalancing. Confirmation of these details is necessary before proceeding with the synthetic index approximation for portfolio evaluation.