FirstEnergy’s 0.9% Surge Drives $350M Volume Spike Entering Top 356 Trading Rank

On September 30, 2025, FirstEnergy (FE) reported a 0.90% increase in its stock price, with a trading volume of $0.35 billion, marking a 31.51% surge from the previous day’s activity. This performance positioned the utility company among the top 356 most actively traded stocks in the market, reflecting heightened investor interest amid ongoing sector dynamics.

The rise in trading volume suggests a potential shift in market sentiment toward FirstEnergy, driven by factors such as earnings expectations or regulatory developments specific to the energy sector. While no direct news events were cited for the stock’s movement, the spike in liquidity underscores the importance of volume as a proxy for underlying investor activity. Analysts often interpret such volume surges as a barometer for short-term momentum, particularly when aligned with broader industry trends.

For back-testing purposes, modeling a strategy involving the purchase of high-volume stocks requires addressing technical constraints in multi-asset portfolio rebalancing. Current platforms optimize for single-asset or event-driven studies, necessitating alternative approaches like narrowing the universe to a fixed index (e.g., S&P 500 constituents) or using liquid ETFs to represent high-turnover segments. These adjustments aim to align testing parameters with available tools while maintaining analytical rigor.

To evaluate the performance of high-volume stocks, a feasible approach involves treating each “top-volume day” as an event and running event-based back-tests. This method isolates the impact of liquidity spikes on subsequent returns, providing insights into the efficacy of volume-driven strategies. However, the practical implementation remains limited by the computational scope of existing systems, requiring further refinements to accommodate complex portfolio simulations.