Mid-Tier Stock Trades in the Shadows of the Top 150 as $700M Volume Ranks 162nd in U.S. Equities

On September 18, 2025, , ranking 162nd among U.S. equities. The stock’s performance remained neutral amid broader market volatility, .

Market activity for The was influenced by limited sector-specific catalysts, with no material news directly tied to the company’s operations or financials. Broader economic themes, such as trade policy developments and AI regulatory discussions, failed to generate significant directional momentum for the stock. The absence of earnings reports, strategic updates, or macroeconomic data releases further constrained price action.

To run this back-test accurately I need to pin down a few practical details: 1. Universe – Which pool of stocks should we rank by dollar volume each day? • All U.S. common shares (NYSE + NASDAQ + AMEX), or • A narrower list (e.g., Russell 3000, S&P 1500, or another universe). 2. Execution convention – Do we: • Buy at each day’s close and liquidate at the next day’s close, or • Buy at next day’s open and sell at that day’s close? 3. Weighting – Equal-weight all 500 names each day, correct? If the above defaults (U.S. common shares, buy at close / sell next close, equal weight) are acceptable, let me know and I’ll start the data pull and run the back-test from 2022-01-03 through today.