Rambus Shares Plunge 1.84% on $220M Volume Drop Slipping to 441st in Liquidity Amid Tech Sell-Off and Licensing Uncertainty

Rambus (RMBS) closed at a 1.84% decline on September 24, 2025, with a trading volume of $220 million, marking a 42.56% drop from the previous day’s activity and ranking 441st in market liquidity. The semiconductor IP licensing firm’s shares faced renewed pressure amid a broader market selloff in tech-driven sectors, though its volume contraction highlighted reduced short-term investor interest.

The stock’s underperformance aligned with sector-specific challenges, as investors reevaluated exposure to high-growth technology plays following mixed earnings reports from key industry peers. Rambus, which relies heavily on licensing revenue from memory and interface technologies, remains vulnerable to macroeconomic volatility, with its business model dependent on demand cycles for semiconductor innovations.

Analysts noted that Rambus’s recent licensing deals with major OEMs have yet to translate into consistent revenue visibility, contrasting with competitors securing multi-year royalty agreements. The company’s reliance on litigation-driven settlements also introduces earnings uncertainty, deterring institutional buyers from increasing positions during periods of market fragility.

To run this back-test accurately, I need a bit more detail and a quick confirmation on how you’d like the study set up: 1. Universe — Should we consider all listed U.S. stocks (≈7 000 names) each day, or restrict to a benchmark universe (e.g., Russell 3000, S&P 1500, etc.)? 2. Trade-price convention — Volume is only known after the market close, so the most common approach is: – Buy at next-day open, sell at that same day’s close (1-day holding period), or – Buy at close (when volume rank is known) and sell at next-day close. – Which convention would you prefer? 3. Weighting & transaction assumptions — Equal-weight all 500 names each day? – Ignore commissions/slippage, or include a fixed round-trip cost? (If unsure, I’ll default to equal weight and zero explicit costs.) 4. Data scope — Start date 2022-01-01; end date = today (2025-09-24). OK? Once I have your preference on the above, I’ll generate the signals and run the back-test for you.