Thomson Falls 1.92% on $230M Volume Lands 424th in Market Activity Rankings

On September 24, 2025, Thomson (TRI) closed with a 1.92% decline, marking its lowest intra-day performance in a volatile trading session. The stock recorded a trading volume of $230 million, securing the 424th position in market activity rankings. This moderate liquidity level contrasts with its recent historical averages, though no direct catalysts for the drop were identified in available disclosures.

Market participants observed that Thomson's price action remained decoupled from broader sector trends. The absence of significant earnings reports, regulatory updates, or partnership announcements during the period suggests the decline may reflect broader market rotation rather than firm-specific developments. Analysts noted the stock's vulnerability to macroeconomic sentiment shifts, particularly in its core information services segment.

To run this test rigorously we’ll need to pin down a few implementation details that aren’t fully specified yet and confirm they’ll fit within the capabilities of the current back-test engine. Key items that still need to be agreed: 1. Market universe • Are we talking about all U.S. listed common stocks (NYSE + NASDAQ) or another market? • Do ADRs, ETFs, SPACs, etc. stay in or get filtered out? 2. Daily stock selection logic • “Top 500 by trading volume” – is that measured on the same‐day close (i.e., you learn the volume only after the session ends, then buy at next-day open)? • Or do you want to treat it as if volume were observable intraday and buy at today’s close? 3. Portfolio construction • Equal-weight across the 500 names each day? • Any position-level or portfolio-level leverage / cash constraints? 4. Trading mechanics • Entry price: next-day open or same-day close? • Exit price: next-day close or next-day open? • Slippage / commission assumptions (if any). 5. Feasibility check with current engine The built-in strategy engine can back-test one instrument at a time, so to do a 500-stock daily-rebalanced portfolio we’d need to stitch together a custom composite return series first (based on daily equal-weighted P&L for each stock) and feed that composite into the engine. • Are you OK with me creating that composite index behind the scenes and reporting the portfolio-level results? • If not, we can explore other approximations such as testing against an ETF that represents very high-volume stocks, but that won’t exactly match the “top-500-by-volume” rule. Once these points are set, I can automatically retrieve the necessary price/volume data, build the daily top-500 selection, generate the 1-day-hold signals, and run the back-test from 2022-01-01 through today. Let me know your preferences on the above, and we’ll proceed immediately.