Opendoor's $1.75 Billion Volume Plunge to 48th Rank Fails to Dampen 0.11% Rally

On October 7, 2025, Opendoor (OPEN) recorded a trading volume of $1.75 billion, a 30.92% decline from the previous day’s activity, ranking it 48th among all listed equities. The stock closed with a 0.11% gain despite the reduced liquidity.

Recent market activity suggests mixed investor sentiment toward the real estate tech platform. A decline in daily volume metrics indicates reduced short-term trading interest, potentially reflecting cautious positioning ahead of key earnings reports or strategic updates. Analysts note that the stock’s ability to maintain positive momentum amid lower volume may signal underlying confidence in its operational resilience.

Market observers highlight the company’s recent focus on cost optimization and service expansion as potential drivers for long-term stability. However, broader macroeconomic factors, including mortgage rate volatility and housing market dynamics, remain critical tailwinds that could influence near-term performance.

To construct the back-test precisely I need to nail down a few implementation details: 1. Market universe • US-listed common stocks (NYSE + NASDAQ + AMEX), or another exchange set? 2. Ranking metric and cutoff • Raw share volume, or dollar volume (shares × price)? • Exactly the top 500 names each day, re-balanced every trading day? 3. Trade execution convention • Buy at today’s close and sell at tomorrow’s close (the classic 1-day holding period), or buy at tomorrow’s open and sell at tomorrow’s close? 4. Portfolio construction • Equal-weight the 500 names, or weight by volume, market-cap, etc.? 5. Trading frictions • Any assumptions for commission, bid-ask spread or slippage, or leave them at zero? Once I have these, I can pull the required data and run the daily rebalancing back-test from 2022-01-03 through today.