Concentrix Stock Plummets 13.33% on $290M Volume Surge Ranks 365th in U.S. Liquidity

On September 26, 2025, Concentrix (CNXC) experienced a 13.33% decline in its stock price despite a significant surge in trading activity. The company’s daily trading volume reached $290 million, reflecting a 288.69% increase from the previous day, ranking it 365th among U.S. equities in terms of liquidity. This sharp volume spike suggests heightened investor interest or strategic positioning ahead of an earnings release or regulatory filing, though no material corporate developments were disclosed in the analyzed period.

Analysts noted that the volume surge outpaced typical patterns for the stock, which has historically traded in a narrower range. While the price drop aligns with broader market volatility affecting customer acquisition and business process outsourcing sectors, the divergence between volume and price action indicates potential short-term technical pressures. Institutional activity tracking tools have yet to flag large-scale hedging or arbitrage strategies, leaving the move’s drivers speculative at this stage.

To back-test this idea rigorously I need a couple of clarifications: 1. Universe definition • Should the daily ranking be taken from all U.S. listed common stocks, only the S&P 500 members, or another specific list? • Is the ranking based on shares traded or on dollar value traded? 2. Execution price • Do we open the position at the same day’s close and exit at the next day’s close (close-to-close), or use the next day’s open for the exit? 3. Transaction costs / slippage • Should we apply any commission or slippage assumptions, or leave them out for this first pass? Once I have these details I can generate the data-retrieval plan and run the back-test.