Rocket Companies Slumps 3.90% on $970M Volume, Struggles for Top 500 Entry as 99th Most Active Stock

On October 7, 2025, Rocket Companies (RKT) closed with a 3.90% decline, trading with a total volume of $0.97 billion, ranking 99th in market activity. The stock's performance was influenced by strategic updates and operational developments within its mortgage origination and homebuying services segments.

Recent disclosures highlighted adjustments to digital platform integrations and revised client acquisition metrics. The company announced enhanced automation protocols for loan processing, though these updates coincided with market skepticism regarding near-term profitability visibility. Analyst commentary focused on the balance between technological advancements and cost management challenges in a competitive sector.

Operational data revealed mixed signals: while customer engagement metrics showed sequential improvement, margin pressures persisted due to rising compliance costs. The stock's volatility reflects broader industry dynamics, with investors weighing long-term growth potential against short-term execution risks. No material regulatory developments or partnership announcements directly impacted the stock during the reporting period.

To run this back-test robustly I need to pin down several practical details. Could you please confirm (or modify) the following assumptions? 1. Universe • All primary-listed U.S. common stocks (NYSE, NASDAQ, NYSE-Arca). 2. Ranking logic • Each trading day t we rank stocks by their dollar trading volume on day t-1. • We select the top 500 names from that ranking. 3. Trade execution • Enter an equal-weighted long position in the selected 500 names at the open of day t. • Exit (fully liquidate) at the close of the same day t (i.e., 1-day holding period). 4. Transaction costs • Ignore commissions/slippage for now (can add later). 5. Back-test window • 2022-01-03 (first trading day of 2022) through 2025-10-07. If any of these points should be different—e.g., use end-of-day volume instead of dollar volume, start/end dates, entry/exit prices, etc.—let me know and I’ll adjust before running the test.