Snowflake’s Shares Plunge as $650M Volume Tanks 63% to Rank 169th in U.S. Trading

. 22, . . equities on the day. The move comes amid broader market volatility and shifting investor sentiment toward cloud computing sector dynamics.

Analysts noted muted demand for Snowflake’s shares as traders recalibrated positions following recent earnings reports and guidance from key competitors. While the company continues to expand its , mixed signals from and macroeconomic uncertainties have tempered short-term momentum. appeared to take a cautious stance, with reduced volume suggesting limited new position initiations.

To run this back-test rigorously I need to pin down a few practical details: Market universe—Which exchange(s) should we scan each day—U.S.-listed stocks only (NYSE + NASDAQ), or another market? Should we exclude very low-price issues (e.g. <$1) or ADRs/ETFs, or include everything? Ranking convention—Do we rank on the same day’s closing volume, then enter at that close (“look-ahead bias”), or rank on yesterday’s volume and enter the next open/close? Execution & costs—Use the closing price to enter and exit? Commission/slippage assumptions (e.g. 1 bps per side, zero, etc.)? Benchmark—Would you like the results compared to a benchmark index (e.g. SPY) over the same period? Once I have those parameters I can generate the data-retrieval plan and run the daily re-balancing back-test from 2022-01-01 through today.