First Slumps 2.35% Amid Sector Pressures as $350M Volume Ranks 332nd

On September 16, 2025, , ranking 332nd among the day’s most actively traded stocks. , marking a significant decline amid broader market volatility.

Analysts attributed the drop to sector-specific pressures, with financial institutions facing renewed scrutiny over and interest rate uncertainty. The bank’s liquidity position and loan portfolio composition remain under investor focus, though no material operational updates were disclosed in recent filings.

Market participants noted that the stock’s performance aligned with broader trends in regional banking, where have contracted due to macroeconomic risks. Trading volume remained above average for the sector, suggesting mixed sentiment among institutional and retail investors.

To evaluate the performance of a volume-based trading strategy, a back-test was proposed using the universe. The approach involves selecting the top 500 stocks by daily trading volume, entering at the close of day t, and exiting at the close of day t+1. Equal weighting is applied, with no explicit cost assumptions or risk controls. This framework aims to assess the viability of volume-driven momentum strategies in the current market environment.