Churchill Stock Surges 3.8% on $380M Volume Spike Jumps to 330th Most Liquid U.S. Equity

On October 10, 2025, Churchill (CCCX) surged 3.80% to close at $X, with trading volume hitting $380 million—a 122.29% jump from the previous day. This elevated volume ranked Churchill 330th among U.S. equities by liquidity, signaling heightened investor activity.

Analysts noted that the stock’s performance aligned with broader energy sector momentum, driven by seasonal demand concerns and geopolitical tensions in key supply regions. Short-term momentum indicators showed positive divergence, suggesting potential follow-through buying ahead of critical technical levels.

Positioning data revealed a shift in institutional sentiment, with recent filings indicating fresh long additions in the sector. However, retail traders remained cautious, with options activity skewed toward bearish protection strategies. This mixed positioning highlights the stock’s sensitivity to macroeconomic data releases in the near term.

To run this test rigorously I need to make sure I have the precise rules and the correct data universe. A few quick clarifications will let me build the data-retrieval and back-test steps properly:

1. Market / universe • Do you want all U.S. listed common stocks (NYSE + NASDAQ) or a specific exchange / region? • Should ETFs, ADRs, preferreds, SPACs, etc. be excluded?

2. Entry / exit prices • Entry: next day’s open, same day’s close, or something else? • Exit: exactly one trading day later at the close?

3. Weighting • Equal-weight each of the 500 names, or volume-weighted / capitalization-weighted?

4. Trading frictions • Assume zero commission / slippage, or do you want a cost model?

Once I have these details I can pull the daily volume ranks, build the rebalancing schedule, and run the 2022-to-present back-test for you.