Snap's 1.63% Rally on $1.05 Billion Trading Day Surge Ranks 80th in Market Activity Amid TikTok Deal Uncertainty

Snap Inc. . 15, , . The move followed market speculation around a potential TikTok deal, as U.S. President hinted at a resolution during European trade discussions. Treasury Secretary confirmed a framework had been reached, though details remain undisclosed. The development triggered mixed reactions across social media platforms, with Snap and Meta both experiencing pre-market declines before reversing gains.

Analysts noted the deal’s ambiguity left investors weighing long-term implications for user engagement and ad revenue. Snap’s stock performance contrasted with broader market trends, . While the company’s short-term volatility reflected regulatory uncertainty, . Investors are monitoring whether the TikTok resolution could alter the competitive landscape, though Snap’s focus on AI-driven features and e-commerce integration is seen as a buffer against near-term risks.

To run this back-test accurately I need to pin down a few practical details and confirm some assumptions: 1. Universe • Do you want to rank all U.S. listed common stocks (NYSE + NASDAQ + NYSE Arca), or a smaller universe (e.g., Russell 3000 constituents)? 2. Trading price used • Buy at today’s close and sell at tomorrow’s close (standard close-to-close implementation)? • Or buy at tomorrow’s open and sell at tomorrow’s close/open? 3. Transaction costs & slippage • Should we ignore them, or apply a fixed round-trip cost (e.g., 10 bps each side)? 4. Rebalancing logic • Daily full turnover (sell everything after one day and repick the new day’s top-500), correct? 5. Data coverage • OK to run from 2022-01-03 (first trading day of 2022) through the latest available close? 6. Performance metrics • Basic cumulative return & annualized Sharpe, or any additional statistics (max drawdown, turnover, etc.)? Please let me know your preferences (or just say “use reasonable defaults”), and I’ll set up the data-retrieval and back-test pipeline accordingly.