Serve Robotics Falls 2.51% on $200M Volume as Trading Activity Ranks 477th in Market

Serve Robotics (SERV) closed down 2.51% on Sept. 24, 2025, with a trading volume of $200 million, ranking 477th in market activity that day. The decline occurred amid mixed sectoral performance as investors reassessed risk appetite in the final quarter of the year.

Analysts highlighted that the stock's weakness aligned with broader market rotation away from robotics and automation sectors. Short-term technical indicators showed bearish momentum, with price action testing key support levels below $12.50. Institutional selling pressure remained elevated, though no material news directly impacting Serve's fundamentals was reported during the session.

To make sure I run the test exactly the way you have in mind, could you please confirm a few practical details? 1. Universe: Which market should the "top-500 by daily trading volume" be chosen from? • U.S. (NYSE + NASDAQ) • China A-shares (SSE + SZSE) • Another market / a pre-defined stock list? 2. Price convention: Do you want to: • Buy at today’s CLOSE and sell at tomorrow’s CLOSE (standard daily re-balance), or • Buy at tomorrow’s OPEN and sell at tomorrow’s CLOSE, or something else? 3. Weighting & turnover costs: • Equal-weight each of the 500 names for one trading day? • Any transaction cost/slippage you’d like us to include (e.g., 5 bps per trade)? 4. Output preference: • A pure performance table is fine, or would you also like equity-curve / drawdown charts? Once I have these details I can pull the data, generate the day-by-day portfolios, and run the back-test from 2022-01-01 through today.