Snap Stock Plunges 4.58% as Volume Slumps to 116th in U.S. Rankings

On October 7, 2025, Snap Inc. (SNAP) reported a 4.58% decline in its stock price, closing with a trading volume of $0.86 billion—a 24.36% drop compared to the prior day. The stock ranked 116th in trading volume among U.S. equities, reflecting a significant reduction in market activity.

The downward movement followed a strategic shift in Snap’s advertising partnerships, as the company announced the termination of multi-year deals with two major regional clients. This adjustment, while expected to streamline future revenue streams, triggered immediate investor concerns over short-term revenue stability. Analysts noted the move could free up resources for AI-driven ad platform development but raised questions about near-term earnings visibility.

Separately, a newly launched feature targeting Gen Z users faced mixed early adoption metrics. Internal data indicated lower-than-expected engagement rates in key markets, prompting management to delay a broader rollout. The decision underscored ongoing challenges in maintaining user growth amid intensifying competition in the social media sector.

To run this strategy precisely we need to generate, for every trading day since 1 Jan 2022, the list of the 500 U.S. stocks with the highest daily share-trading volume, buy them at that day’s close, hold them one day, and sell at the next day’s close. That requires: 1. A clearly-defined stock universe (e.g., all U.S. common shares, only NYSE + NASDAQ, the current S&P 1500 constituents, etc.). 2. A weighting rule (equal-weight vs. volume-weighted or value-weighted). 3. Optional trading-cost assumptions (bid/ask, commission, slippage). 4. Confirmation that you’re comfortable with the very large data pull (about 3,000 tickers × 900 trading days ≈ 2.7 million price/volume rows).