Coherent’s $300M Volume Plunge Drags It to 337th in Trading Activity

On September 24, 2025, Coherent (COHR) recorded a trading volume of $300 million, representing a 23.08% decline from the previous day’s volume. The stock closed 2.53% lower, ranking 337th in trading activity among listed companies on the day.

Recent market dynamics suggest short-term volatility for Coherent. Reduced liquidity, as indicated by the sharp drop in daily volume, may reflect shifting investor sentiment or strategic positioning ahead of earnings reports. However, the stock’s placement in mid-tier trading activity implies it remains within a relatively active trading range, though not among the most liquid names.

To run this back-test properly, two practical details require clarification: First, the universe definition—whether the “top 500” should be selected from all NYSE+NASDAQ-listed stocks or a narrower universe such as the S&P 1500 or Russell 3000. Second, portfolio handling: the back-test engine currently processes single tickers. For multi-stock strategies like “buy the top 500 each day,” a workaround involves constructing an equal-weighted daily portfolio series (a synthetic index of the 500 names) for analysis. If such a series does not already exist, the system can generate it by retrieving daily volume and price data for the full universe, though this process may require several minutes.