IBM Falls 3.61% on $1.26B Volume Ranks 87th in Liquidity Amid Cloud Strategy Scrutiny and AI Competition

On October 10, 2025, IBM closed at a 3.61% decline with $1.26 billion in trading volume, ranking 87th in market liquidity. The selloff coincided with renewed scrutiny over its hybrid cloud strategy amid shifting enterprise IT priorities. Analysts noted mixed investor sentiment as the company faces intensifying competition in AI infrastructure deployment and data center optimization

Recent regulatory developments added pressure as antitrust reviews expanded across major cloud providers. While IBM's AI partnerships remain a strategic pillar, market participants emphasized near-term execution risks in transitioning legacy clients to cloud-native solutions. The decline mirrored broader sector weakness, though IBM's valuation remains anchored to long-term enterprise adoption trends

To accurately back-test the "top-500-by-volume, 1-day hold" strategy we need to resolve a few practical details that aren't fully specified yet: 1. Universe • Which market? (e.g., all NYSE + NASDAQ common shares, only S&P 500 constituents, …) • Do delisted stocks remain eligible? 2. Volume definition • Raw share volume or dollar volume (price × shares)? • Measured on the close of the selection day? 3. Execution assumptions • Buy at that day’s close and sell at the next day’s close – correct? • Equal-weight across the 500 names? • No transaction costs/slippage, or use specific assumptions? 4. Benchmark / output • What performance metrics are most important to you (CAGR, max draw-down, Sharpe, etc.)? Our back-testing engine can handle single-ticker or event-driven tests directly, but a daily-rotating 500-stock portfolio requires one additional data-prep step: generating the daily constituent list (the 500 tickers with the highest volume each day). Once we have that list, we can feed it to the engine. Let me know your preferences on the four points above (even brief answers are fine). I’ll then assemble the data-retrieval plan and run the full back-test.