TeraWulf Surges 7.11% on $350M Volume, Climbs to 335th in Market Rank

TeraWulf (WULF) surged 7.11% on September 29, 2025, with a trading volume of $350 million, marking a 35.64% increase from the previous day and securing the 335th highest volume rank in the market. The stock's performance reflects heightened pre-market activity driven by sector-specific developments and investor positioning ahead of broader market open.

Market participants observed elevated pre-market volatility as early trading activity often signals responses to industry-related updates. TeraWulf's price movement aligns with patterns typically associated with significant news events or strategic announcements within its operational sector. The surge in volume suggests increased liquidity and potential institutional interest in the name during the session.

To evaluate the strategy's viability, a back-test framework was proposed with the following parameters: U.S.-listed common stocks on NYSE and NASDAQ (excluding delisted names), dollar volume ranking, and daily rebalancing of top 500 stocks. The test period spans from January 3, 2022, to September 27, 2025, with all transactions executed at close prices and equal weighting. Implementation requires external ranking of daily volume data before back-testing execution.

Confirmed parameters include survivorship-bias-free universe, dollar volume metric, and 1-day holding period. Adjustments to market scope, volume metric, or holding period can be made prior to data processing.