Netflix Plunges 1.69% on Strategic Shifts Ranks 23rd in 385 Billion Trading Volume

On Sept. 18, 2025, , ranking 23rd in US market activity. The decline came amid mixed investor sentiment around the streaming giant's near-term prospects following a series of strategic announcements.

Recent developments highlighted in market analysis included a shift in content licensing strategies that could impact international revenue growth. While the company confirmed expanded distribution deals for original content in select Asian markets, analysts noted potential dilution effects on per-subscriber revenue metrics. These factors contributed to a cautious trading pattern as investors weighed short-term guidance against long-term platform fundamentals.

. The pullback occurred despite no material changes to core financial metrics, with sell-side activity concentrated among institutional accounts rebalancing media sector exposure. , indicating active position adjustments rather than panic selling.

To run this test rigorously I need to build a daily, , , and measure the one-day holding return. That requires: 1. A complete US stock universe (to rank by volume each day). 2. Daily volume and price data for every name in that universe. 3. A cross-sectional portfolio engine (because the current single-ticker back-test tool can't handle 500 tickers at once). At the moment our in-chat toolset only supports single-asset back-tests, so I'd have to run an external, custom script to generate the portfolio returns and then feed in the consolidated P&L series. Before I do that, could you confirm the following default assumptions, or let me know if you'd like anything changed? • Universe: all common stocks and ADRs listed on NYSE + NASDAQ (ex-OTC). • Selection rule: each trading day, , . • Rebalance/holding: hold for one trading day, then repeat the screen (i.e. . • Transaction costs and slippage: ignore them (i.e. . . , , , , , . Once you confirm (or adjust) those points I'll run the external cross-sectional back-test and bring the results back into the chat for you.