ServiceNow's 37% Volume Surge Propels It to 52nd in Market Activity as High-Liquidity Strategy Outperforms S&P 500

On September 10, 2025, , . The heightened liquidity suggests increased institutional or algorithmic participation despite the downward price movement.

Back-test analysis of a volume-weighted trading strategy reveals key insights. . , . , .

ServiceNow’s inclusion in such a portfolio during this period underscores its role as a liquidity magnet. However, , coupled with a price drop, highlights potential short-term profit-taking or positioning adjustments. .

Back-test assumptions: Universe of ~4,000 U.S. common stocks, daily re-balancing to top 500 by dollar volume, equal-weight positions, no transaction costs, and a 2022–2025 test window. , , .