Upstart’s Trading Volume Plunges 28.53% as Stock Slumps to 271st in Activity

On September 23, 2025, , . , .

Recent market dynamics suggest heightened sensitivity to liquidity metrics for UPST. , , reflects investor caution amid broader market volatility. , though no specific catalysts were identified in available reports to directly link to the stock’s performance.

To construct a precise back-test for the strategy “buy the top 500 stocks by daily trading volume, hold 1 day, from January 1, 2022, to today,” several implementation parameters require clarification. Key considerations include the universe of securities (e.g., all U.S. common stocks or a subset like Russell 3000 constituents), exclusion criteria for ADRs or ETFs, pricing conventions for entry/exit points, and weighting methodologies (equal-weight vs. ). Additional factors such as transaction costs, liquidity filters, and benchmark comparisons (e.g., SPY) will also influence the final outcome.

Once these parameters are defined, the back-test can be executed by generating a daily signal file based on volume data, retrieving historical pricing, , , , . The methodology must account for frictional costs like commissions and slippage to ensure accuracy.