Atlassian Stock Surges 2.60% on $350M Volume Strikes 301st in Market Activity

On September 26, 2025, Atlassian (TEAM) surged 2.60% with a trading volume of $350 million, ranking 301st in market activity. The stock’s performance reflects renewed investor focus on enterprise software dynamics following recent strategic updates.

Analysts noted that Atlassian’s rally aligns with broader market sentiment toward productivity tools amid evolving hybrid work models. Recent product roadmap disclosures and customer retention metrics have reinforced confidence in its long-term positioning, though short-term volatility remains tied to macroeconomic factors such as interest rate expectations.

To run this back-test robustly I’ll need to clarify a couple of details: 1. Universe • Which market should we scan for the daily-volume ranking – U.S. listed equities (NYSE/Nasdaq/AMEX) or another market? • Are ADRs, ETFs and penny stocks (< $1) included, or should we filter them out? 2. Trade timing & pricing • Entry price: do we buy the 500 names 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: should we ignore them or apply a haircut (e.g., 5 bp each side)? 3. Rebalancing mechanics • Equal-weight the 500 names each day, correct? • Daily rebalance so the portfolio is fully refreshed every session (hold period exactly one trading day). 4. Benchmark / performance metrics • Any particular benchmark to compare against (e.g., SPY)? • Bespoke risk controls (max drawdown constraint, stop-loss, etc.)? Once I have this information I can set up the data retrieval and run the strategy back-test from 2022-01-03 (first trading day of 2022) through today.