ServiceNow Shares Dip 1.39% as Trading Volume Plunges 57.74% to 81st in Market Rankings

On September 22, 2025, , . This placed the stock at rank 81 in terms of trading volume within the broader market, .

The subdued trading activity may reflect reduced short-term investor engagement, though no major company-specific news directly attributed to the price movement was reported. Market participants noted that the volume drop contrasted with recent volatility patterns, suggesting potential consolidation ahead of next-quarter earnings or strategic announcements.

To run this back-test accurately, I need to pin down a few practical details that aren’t yet specified: 1. Universe of tradable stocks—should we use all U.S. common stocks listed on NYSE + NASDAQ, or another universe (e.g., S&P 1500, Russell 3000, a specific exchange)? 2. Weighting method for the daily portfolio of 500 names—equal-weight (each stock gets 0.20% of the day’s capital) is the common default, while value-weight or volume-weight are alternatives. 3. Trade timing assumptions—signal generation by previous day’s volume, entry price as next day’s open, and exit price (1-day holding period) as same day’s close. 4. Frictional costs—if commissions or slippage are to be included, please specify; otherwise, zero transaction costs will be assumed. Once confirmed, the data-retrieval plan and back-test execution will proceed.