Waste Management Tumbles 1.35% as $390M Volume Slides to 297th in Market Activity

On October 2, 2025, Waste Management (WM) closed with a 1.35% decline, trading at a volume of $390 million, ranking 297th in market activity. The stock’s performance reflects broader sector dynamics as investors reassess risk appetite ahead of macroeconomic data releases later in the week.

Analysts noted muted momentum in waste services contracts during Q3, with several municipalities delaying infrastructure bids due to budgetary constraints. This aligns with recent trends showing slower project approvals in the public sector, which accounts for roughly 30% of Waste Management’s revenue stream. Supply chain bottlenecks in equipment procurement have also delayed fleet modernization timelines, though the company reiterated its full-year EBITDA guidance during an investor update.

Technical indicators show the stock testing key support levels near $92.50, with bearish momentum intensifying as the RSI approaches oversold territory. Short-term traders are monitoring the 20-day moving average for potential reversal signals, while institutional positioning data reveals a 4.2% decline in hedge fund ownership since the last quarter.

A backtesting analysis of a strategy selecting the 500 highest-volume stocks daily from January 1, 2022, to the present indicates the current framework requires either narrowing the scope to a single security or providing a pre-computed portfolio list. The existing engine supports single-ticker testing but lacks automated rebalancing capabilities for multi-asset strategies. Further refinements would require either isolating specific ETFs like SPY or breaking the analysis into smaller subsets for validation.