DraftKings Slides to 266th in Trading Volume as High-Liquidity Momentum Strategies Surge 166 Percent

On July 31, 2025, DraftKings (DKNG) closed with a 1.55% decline, trading at a daily volume of $530 million—a 37.24% drop from the previous day’s activity. The stock ranked 266th in terms of trading volume among listed equities, reflecting reduced short-term liquidity interest.

The performance aligns with broader market dynamics where high-volume stocks often experience momentum-driven price shifts. While no direct company-specific news influenced DKNG’s movement, historical trading strategies focused on liquidity and momentum have shown significant outperformance in similar contexts. For instance, a strategy selecting the top 500 stocks by daily trading volume and holding for one day generated a 166.71% return from 2022 to July 30, 2025—surpassing the benchmark by 137.53% through effective capture of liquidity-driven market trends.

This approach highlights the role of high-liquidity instruments in capitalizing on transient market movements. The strategy’s success from 2022 underscores the adaptability of volume-based momentum strategies in varying market conditions, particularly when risk management frameworks are applied to balance exposure to volatile assets.

The strategy of purchasing the top 500 stocks by daily trading volume and holding them for one day delivered a 166.71% return from 2022 to July 30, 2025. This outperformed the benchmark return of 29.18%, generating an excess return of 137.53%. The strategy’s success is attributed to its focus on high-liquidity stocks, which captured momentum-driven market shifts effectively.