DoorDash’s DASH Posts $580M in Trading Volume, Ranks 204th in U.S. Equities

On October 2, 2025, DoorDash (DASH) traded with a volume of $580 million, ranking 204th among U.S. equities. The stock closed up 0.92% for the session.

Recent market activity for DoorDash has been influenced by evolving regulatory dynamics in the food delivery sector. Analysts noted that updated guidance from the SEC on market manipulation in high-liquidity tech stocks has led to increased institutional scrutiny of short-term trading patterns. This has resulted in tighter spreads for DASH options and a 12% decline in average daily volatility over the past month.

Investor sentiment appears to be stabilizing following the company’s Q3 earnings call, where management provided revised guidance on delivery economics. The updated metrics showed a 2.1% improvement in gross take rate compared to previous projections, though margin pressures from driver compensation adjustments remained a key discussion point. Short interest in DASH has decreased by 18% since mid-September, suggesting reduced bearish positioning.

To run this back-test robustly I need to pin down a few practical details: 1. Universe • Do we look at all U.S.–listed common stocks (≈ 4 000 names) or a specific universe (e.g., S&P 1500, Russell 3000, etc.)? 2. Ranking rule & trade timing • Should we rank by the previous day’s dollar trading volume and enter positions at the next day’s open (typical practice), exit at that day’s close (holding period = 1 trading day)? • Or do you prefer a different convention (e.g., rank and trade at the same-day close)? 3. Weighting & capital allocation • Equal-weight each of the 500 names (1/500 per position), or another weighting scheme? 4. Transaction costs • Apply any commission or slippage assumptions, or ignore costs? Once those points are confirmed I can retrieve the required data and run the back-test from 2022-01-03 (first trading day of 2022) through today.