NIKE's 1.06% Drop Amid 27.46% Volume Slide to 113th Rank Highlights Strategic Struggle

On October 6, 2025, NIKE (NKE) closed at a 1.06% decline with a trading volume of $990 million, marking a 27.46% drop from the previous day’s activity and ranking 113th in market liquidity. The stock’s performance reflects mixed signals from its strategic initiatives and market conditions.

Recent reports highlight NIKE’s ongoing efforts to streamline its supply chain through automation, which analysts suggest could stabilize long-term margins but may not immediately offset current operational pressures. The company also announced a partnership with a European soccer federation for a multi-year apparel sponsorship, a move expected to bolster brand visibility in key growth markets. However, concerns persist regarding inventory management, with some retailers delaying orders amid cautious consumer spending trends.

To run this back-test rigorously I need to pin down a few practical details: Universe—Should we look at all U.S. listed common stocks (NYSE + NASDAQ + AMEX), or a different market/universe? Trade execution convention—Do we buy the portfolio at the day’s close and exit at the next day’s close (typical for end-of-day systems), or use next-day open prices for entry/exit? What price series should we use (adjusted close, split-adjusted open/close, etc.)? Weighting and rebalancing—Equal-weight (each of the 500 names gets 0.2% of capital) or volume-weighted / capitalization-weighted? Transaction costs & slippage—Should we include a per-trade commission or a bid-ask/percentage slippage assumption? Once these are set I’ll retrieve the daily volume/price data, construct the daily “Top-500-by-volume” list, and run the 1-day-hold back-test from 2022-01-01 to present.