CDW Shares Fall 2.5% as $360M Volume Surges 75% to 289th in U.S. Equity Trading Activity

On September 24, 2025, CDW (CDW) closed down 2.50% with a trading volume of $360 million, marking a 75.37% surge from the previous day's volume. The stock ranked 289th in trading activity among U.S. equities, reflecting heightened investor engagement despite the price decline.

The move followed mixed signals from market participants. Short-term technical indicators showed oversold conditions, while broader sector rotation toward value stocks added complexity to sentiment. Analysts noted that volume spikes often precede directional clarity, though immediate price action suggested caution ahead of potential earnings reports or macroeconomic data releases.

To run this back-test correctly I need to clarify a few practical details about the strategy and the investment universe: 1. Market universe • Should we rank all listed U.S. equities (NYSE + NASDAQ + Amex), or a different market/universe (e.g., only S&P 500 constituents, only China A-shares, etc.)? 2. Re-balancing day • Do we rebalance at the U.S. close every trading day (i.e., buy today’s Top-500-by-volume names at today’s close and sell them at tomorrow’s close)? 3. Weighting method • Equal-weighted across the 500 names, or volume-weighted / market-cap-weighted? 4. Transaction costs • Should we include any slippage or commission assumptions, or treat the trades as friction-less? 5. Benchmark (optional) • If you’d like the results compared with a benchmark index (e.g., SPY), please let me know. Once I have these details I can prepare the data-retrieval plan and run the back-test.