Roblox's Modest Rebound: 125th in U.S. Trading Activity Amid $700M Turnover and 39% Volume Plunge

On September 12, 2025, , . . equities, . This performance followed a period of mixed investor sentiment influenced by strategic updates and earnings expectations.

Recent developments highlighted Roblox's focus on expanding its metaverse ecosystem through partnerships with educational institutions and content creators. The company announced a pilot program to integrate AI-driven tools for user-generated content moderation, signaling a shift toward proactive platform governance. Analysts noted that these initiatives could enhance user retention but require significant capital allocation, which may pressure short-term earnings visibility.

Market participants also reacted to Roblox's Q3 revenue guidance, which fell below consensus estimates due to slower-than-expected monetization in emerging markets. While the company reiterated its long-term growth targets, the near-term outlook remains clouded by macroeconomic headwinds affecting discretionary spending. Institutional investors appeared cautious, with no major buyouts or hedge fund positioning shifts reported in the latest filings.

To run this back-test robustly I need to pin down a few practical details, because the implementation and data-pull change materially depending on the answers: 1. Universe • Do you want to rank every listed U.S. common stock each day (≈ 4,000 names), or a narrower universe such as the S&P 500, Russell 1000, etc.? • Should ETFs, ADRs and penny-stocks be included or filtered out? (My normal default is “common shares only, price ≥ $1”.) 2. Execution mechanics • Because “top 500 by daily volume” is only known after the close, the usual workflow is: a) Identify the top-500 at the close of day t. b) Enter an equal-weight long position in those names at the next day’s open (t + 1). c) Exit at that same day’s close (t + 1). Please confirm this buy-next-open / sell-same-day-close convention. 3. Transaction costs & slippage • If nothing is specified, I will assume zero fees and no slippage. • Let me know if you’d like per-trade commissions or price impact modeled. 4. Capital and leverage • Default will be 100% notional exposure (no leverage) and full reinvestment of profits. 5. Rebalancing period • Daily (i.e., the portfolio is completely turned over every trading day). Please confirm. If these assumptions look good, I can move on to building the data retrieval plan and running the back-test. Let me know, or adjust any point above.