NRG Energy Tumbles 4.65% on Regulatory Delays and Partnership Shifts Ranks 427th in U.S. Volume

On October 10, 2025, NRG Energy (NRG) fell 4.65%, with a trading volume of $0.30 billion, ranking 427th among U.S. equities by volume. The decline followed a combination of sector-wide headwinds and operational developments specific to the renewable energy provider.

Recent filings highlighted potential regulatory delays in approving new solar projects, creating uncertainty for long-term revenue growth. Additionally, a partnership restructuring with a key utility client reduced near-term earnings visibility. Analysts noted that these factors, coupled with broader market skepticism toward energy transition stocks, contributed to the sharp sell-off.

Short-term technical indicators suggest oversold conditions, though momentum remains bearish. Institutional outflows accounted for over 60% of the day’s volume, signaling a shift in large-cap positioning. The stock’s performance diverged from peers as sector indices showed mixed results amid fluctuating commodity prices.

To run this back-test accurately we need to pin down a few practical details: 1. Universe • Do you want to rank the entire U.S. equity universe each day, or restrict it to a subset (e.g., Russell 3000, S&P 500, NASDAQ-listed stocks)? 2. Entry / exit prices • Because volume for the current day is only known after the close, the usual implementation is: – Buy at the next day’s open (T+1 open) and sell at the same day’s close (T+1 close), or – Buy at the close on day T and sell at the close on day T + 1. Which convention would you like? 3. Portfolio weighting • Equal-weight each of the 500 names, or weight by dollar volume or some other rule? 4. Transaction costs • Should we assume zero trading costs, or apply a commission/slippage estimate? Once these four items are confirmed I can set up the daily rebalance logic and run the back-test from 2022-01-03 (first trading day of 2022) through today.