Arm Shares Rise 1.17% on Semiconductor Pact Despite 53.8% Volume Drop and 220th Dollar Ranking

On October 2, 2025, Arm Holdings (ARM) closed with a 1.17% gain, trading with a daily volume of $540 million, a 53.78% decline from the prior day’s activity. The stock ranked 220th in terms of dollar volume among listed equities, reflecting reduced short-term liquidity but maintaining a positive directional shift.

Recent developments surrounding Arm include a strategic partnership announcement with a major semiconductor manufacturer, signaling long-term collaboration in next-generation chip design. Additionally, the company confirmed progress in its licensing agreements with two undisclosed clients, expanding its royalty revenue pipeline. Analysts noted these developments as catalysts for near-term investor confidence despite broader market volatility.

Technical indicators showed mixed momentum, with the stock breaking above its 50-day moving average but failing to sustain above key resistance levels. Short-term traders remained cautious, given the sharp volume contraction observed in recent sessions. Institutional ownership data suggested a slight increase in accumulation activity during the week, though retail participation appeared muted.

To run this back-test rigorously we need to pin down a few practical details and confirm the data universe. Could you please help clarify the following? 1. Market universe • Do you want to rank all U.S. listed common stocks (≈6-7k names) by daily dollar volume, or limit it to a benchmark universe such as the Russell 3000, S&P 1500, etc.? • Are ADRs, ETFs and preferred shares excluded? 2. Trade timing & price assumption • When you say “hold them for 1 day,” should we: – Buy at today’s close and exit at tomorrow’s close, or – Buy at tomorrow’s open and exit at tomorrow’s close? • Slippage/transaction costs: OK to ignore, or apply a flat cost (e.g., 1 bp per side)? 3. Weighting • Equal-weight across the 500 names each day, or weight by something else (e.g., proportional to volume)? 4. Benchmark • Should we compare performance against SPY or another index? Once we lock in those details I can lay out the precise data-retrieval plan and launch the back-test.