Lucid Group’s Modest 2.32 Rally Overshadowed by 30 Volume Decline and 492nd U.S. Trading Rank

On October 8, 2025, Lucid Group (LCID) rose 2.32% to close its trading session, with a trading volume of $0.22 billion—a 30.28% decline from the previous day’s activity. The stock ranked 492nd in trading volume among U.S. equities, reflecting reduced market participation despite its modest price gain.

Recent developments suggest mixed investor sentiment. The company’s strategic pivot toward cost optimization and production efficiency has drawn attention, though execution risks remain under scrutiny. Analysts noted that liquidity constraints and supply chain bottlenecks could delay projected margin improvements, tempering short-term bullish momentum.

Market observers highlighted the absence of major institutional activity in the past week, contrasting with earlier volatility triggered by production updates. While management reiterated its focus on scaling affordable EV models, investors appear cautious about near-term cash flow visibility. Regulatory filings also emphasized ongoing restructuring efforts, though their impact on operational metrics remains untested.

To set up this back-test accurately, I need a couple of clarifications about how you’d like the strategy defined and measured: 1. Universe • Should the “top 500 stocks by daily trading volume” be selected from all U.S. listed common stocks (NYSE + NASDAQ + AMEX), or from a narrower list such as the S&P 500 constituents? • Are ADRs, ETFs or preferred shares allowed, or do we limit to common stocks only? 2. Trade timing & price • Do you want to buy at the market close on the ranking day and exit at the next day’s close (i.e., a one-day holding period measured Close-to-Close)? • Or buy at next day’s open and sell at its close (Open-to-Close)? 3. Transaction costs & slippage • Should we assume zero trading costs, or apply a per-trade commission / spread? • If you have a default cost assumption, please let me know. Once these points are set, I can retrieve the required data, generate the daily portfolio signals, and run the back-test from 2022-01-01 through today.