Futu’s 0.19% Rally Can’t Offset 28.82% Volume Plunge as Stock Slides to 446th in Trading Activity

On September 8, 2025, , . , ranking 446th in terms of trading volume among listed equities on the day.

The muted volume surge suggests reduced short-term market participation despite the modest price gain. Analysts noted that the divergence between volume contraction and limited price movement could reflect a consolidation phase in the stock's near-term trajectory. and algorithmic activity remain key focus areas for observers tracking liquidity dynamics.

For backtesting purposes, two implementation approaches require clarification: first, defining the security universe—whether it encompasses all U.S.-listed equities, a specific index subset, or another framework. Second, selecting between a simplified proxy using an like SPY or VTI to simulate daily rebalancing, or executing a custom multi-asset run with daily ticker lists for the top 500 volume names. The latter would necessitate external aggregation of returns, as current systems process single-ticker data exclusively.