Snap's $1.13B Volume Plunges 23.8% to 93rd in Market Ranking as Earnings and Macro Pressures Weigh

On October 6, 2025, Snap (SNAP) closed with a 0.23% decline, trading on $1.13 billion in volume—a 23.81% drop from the previous day—ranking 93rd in market volume. The stock's performance reflected mixed signals from recent business updates and macroeconomic conditions.

Recent reports highlighted Snap’s Q3 user growth, with daily active users (DAUs) reaching 350 million, a 22% year-over-year increase. However, advertising revenue growth slowed to 18% in the same period, below analyst expectations. Competitors like Meta and TikTok continued to capture market share in the social media advertising space, raising concerns about Snap’s long-term monetization potential.

Investor sentiment was further tempered by broader market volatility. A weaker-than-anticipated jobs report and shifting Federal Reserve policy expectations led to sector-wide underperformance, with communication services stocks declining 0.8% on the day. Analysts noted that Snap’s valuation remains sensitive to macroeconomic shifts, given its high-growth multiple and reliance on discretionary spending.

To run a daily-rebalanced “Top-500-by-volume” strategy, practical parameters must be defined: universe scope, trade-price conventions, weighting methods, and benchmark selection. For instance, whether to include ADRs or penny stocks, use dollar volume vs. share volume for ranking, and apply equal-weighting or market-cap-weighting. Transaction costs and benchmark choices (e.g., SPY) also impact back-test accuracy. Once these details are finalized, historical volume data can be processed to generate position files and evaluate performance from January 1, 2022, to the current date.