Nebius Group Slides to 41st in U.S. Volume as AI Stocks Gain Momentum

Nebius Group (NBIS) closed 0.22% lower on Sept. 26, with trading volume falling 26.58% to $1.59 billion, ranking it 41st in volume among U.S. stocks. The decline followed mixed signals from market participants assessing the company’s strategic positioning amid broader sector volatility.

Analysts noted that the stock’s muted performance contrasted with recent momentum in AI infrastructure stocks, as investors weighed near-term execution risks against long-term growth potential. While Nebius has maintained its focus on expanding cloud capabilities, recent earnings commentary highlighted ongoing capital intensity in scaling operations, which may temper short-term upside.

Back-testing methodologies for evaluating high-volume stock strategies remain constrained by current tools, requiring either manual data inputs or approximations using broad-market ETFs like RSP or SPY. This limitation underscores the need for more dynamic portfolio re-construction frameworks to accurately model cross-sectional volume-driven strategies across hundreds of tickers.

The “top-500-by-volume” approach necessitates daily recalculating rankings and rebalancing portfolios, a process currently limited to single-ticker or event-based testing. To proceed, users may either submit pre-compiled return streams for the basket, use proxy ETFs for approximation, or narrow analysis to specific high-volume stocks. Each method carries trade-offs between accuracy and practicality.