Rocket Fuel The Surges to 219th in Market Activity as Trading Volume Jumps 98% on Absence of Fundamentals

On October 6, 2025, The saw a trading volume of $550 million, marking a 98.23% increase from the previous day and ranking 219th in market activity. The stock’s performance drew attention amid mixed broader market conditions, with notable volatility observed in key sectors.

Analysts highlighted that The’s surge in liquidity could reflect renewed investor interest in its core business segments, particularly in light of recent operational updates. While no direct earnings announcements were reported, the spike in trading volume suggests potential short-term positioning by institutional or algorithmic traders capitalizing on price momentum.

Market participants noted that The’s position in volume rankings aligns with broader trends of increased retail participation, though no specific catalysts such as regulatory changes or partnership announcements were disclosed in the immediate term. The absence of sector-specific news further underscores that the move was driven by technical factors rather than fundamental shifts.

To set up this back-test correctly, I need to pin down a few details that will materially affect the results: 1. Market / universe • Should we scan all U.S. listed equities (NYSE + NASDAQ + AMEX) each day, or a different universe (e.g., only S&P 500 constituents, only NASDAQ, a specific country, etc.)? 2. Price used for execution • Buy at the same day’s close and liquidate at the next day’s close (close-to-close), or buy next day’s open and sell at that day’s close (open-to-close)? • If you have another convention in mind, please specify. 3. Transaction costs • Do you want to include any commission or slippage assumptions, or keep it frictionless? Once I have these three items, I can proceed to pull the data, construct the daily portfolios of the 500 highest-volume stocks, and back-test the 1-day holding strategy from 2022-01-01 to today.