First Surges 1.59% Despite 20.75% Volume Slide Maintains 347th in Daily Trading Activity

On September 25, 2025, First (FCNCA) closed with a 1.59% increase, marking its highest single-day gain in recent weeks. The stock traded with a volume of $0.33 billion, representing a 20.75% decline from the previous day’s activity. Despite the drop in trading volume, the security maintained a relatively strong position in the market, ranking 347th in terms of daily trading activity. The move appears to reflect selective institutional interest amid broader market consolidation.

Recent developments indicate mixed positioning among key stakeholders. While no major regulatory actions or earnings reports were disclosed, the volume contraction suggests reduced liquidity demand from large-scale investors. Analysts note that the security’s performance remains decoupled from broader market indices, with its trajectory influenced more by sector-specific dynamics than macroeconomic catalysts. The absence of new product launches or strategic partnerships further underscores the lack of immediate external drivers.

To conduct a back-test for this security, additional parameters are required to ensure precision in signal execution. The universe definition is critical—whether encompassing all U.S.-listed common stocks or a narrower set. Execution timing must also be clarified: does the strategy involve ranking stocks by end-of-day volume on day t, purchasing at the next day’s open (t+1), and exiting at that day’s close? Clarification on transaction costs or slippage assumptions is equally essential to accurately model returns, volatility, and drawdown metrics over the 2022–2025 period.