Zillow Group Z Surges 2.29% on $380M Volume Spurt Ranks 304th as JPMorgan Raises Target Amid Expansion and 52-Week High

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Investor sentiment appears focused on Zillow’s strategic expansion into non-traditional real estate services, including mortgage lending and rental platforms. These initiatives, coupled with enhancements, have driven platform engagement despite like high interest rates. While the stock trades above its calculated fair value, the firm’s liquidity position and diversified revenue streams suggest continued support. Market reactions remain measured, with the move seen as reinforcing confidence rather than signaling a fundamental shift in business dynamics.

To set up this back-test rigorously I need to pin down a few practical details that aren’t fully specified yet. A quick confirmation on the following will let me run the simulation without introducing unintended assumptions: 1. Universe • Should we include every U.S.-listed common stock (≈ 4,000 names) or restrict to a subset such as the Russell 3000 or S&P 500 constituents? • Do you want ADRs, ETFs and other non-common shares filtered out? 2. Volume ranking day & trade execution • Typical practice is to rank stocks by yesterday’s volume, then open positions at today’s open and close them at today’s close (1-day holding period). • Is that acceptable, or would you prefer a different timing (e.g., buy at yesterday’s close, sell at today’s close)? 3. Position sizing & transaction costs • Equal-weight each of the 500 names? • Any commission or slippage assumption to apply? If the defaults below are fine, just let me know and I’ll proceed immediately: • Universe: all U.S. common stocks (no ETFs/ADRs) that have been listed since 2022-01-03. • Ranking: use previous day’s volume; enter at next day’s open, exit at same day’s close. • Equal-weight; no transaction costs. Once I have your confirmation (or any tweaks), I’ll fetch the data and run the back-test.