Recaps · August 25, 2026

JEM, August 25: the 11:20 headline, three halts, and $8.68

• Small cap
• Momentum
• Gap, run and fade
• Catalyst: news
• Halted three times
• Float traded 10x by the close

Float

639,490 shares

Volume

8.42 million shares

Previous close

$3.82

Open

$5.17 (up 35.3%)

High

$8.68 at 11:56 a.m.

Halts

3 (11:20 a.m. and 11:25 a.m. and 12:09 p.m.)

Close

$6.80

The day before

On August 24, JEM opened at $4.01 and ran to $7.11. It closed at $3.82, below where it opened.

Its last trade that day, after hours, was $5.97.

Pre-market: the float traded by 5:07 a.m.

The first trades on the 25th were at $5.98, already well above the $3.82 close. The pre-market high came right away: $7.05 at 4:00 a.m. By 4:16 it was at $5.40, down 23% from that high.

By 5:07 a.m., more shares had traded than exist in the whole float (639,490). 1.37 million shares traded before the bell.

Here is what the chart doesn't show. From 7:14 a.m. on, someone was bidding for a lot of stock at exactly $3.82, the previous close, well below where the stock was trading. It grew to 100,201 shares at 8:56 a.m., about 16% of the float. At 9:17:03 a.m. it was pulled. The size left the book without trading there.

There were also ask walls above the price. One sat at $6.00 from 6:37 a.m. and one at $6.50 from 7:21 a.m.

The open and a quiet hour

It opened at $5.17, up 35% from the previous close. It dipped to $4.56 at 9:44 a.m., the low so far. Then it climbed to $5.79 at 10:35 a.m., up 27% from that low.

After that it drifted back. By 11:19 it was trading around $5.05, below the open, on thin volume.

The headline and three halts

At 11:20 GlobeNewsWire ran: “707 Cayman Holdings Limited Announces Signing of Term Sheet to Acquire Crucial Innovation Inc., Supported by US$10.25 Million Financing Led by GeoNova Holdings.” In the same minute the price jumped to $5.64, and at 11:20:31 it was halted (a volatility pause).

It reopened at 11:25:31 at $5.81, 3% above where it stopped. The $6.00 ask wall was gone by 11:25:34. 7,943 shares traded at exactly $6.00 in the 11:25:33 second. At 11:25:54 it was halted again, with the last trade at $6.39.

The second halt lasted ten minutes. It reopened at 11:36:02 at $7.33, 15% above where it stopped, with a single print of 64,304 shares. That cleared the $7.05 pre-market high. The $6.50 ask wall, which had grown to 37,394 shares at 10:36, was pulled one second later. In the reopen second itself a 24,026-share buy order swept from $6.60 to $7.50 across 52 price levels. A 20,856-share sell order swept back down from $7.03 to $6.60.

The 11:36 minute traded 425,460 shares. At 11:37 it ran to $8.08, up 10% from the reopen. Then it chopped between $7.02 and $8.41 for the next 18 minutes. At 11:42:06 one 51,679-share buy order swept from $7.94 to $8.40 across 45 levels.

11:56 and after

Here's what happened. From $8.00 at the start of 11:56 it ran to $8.68, the high so far, in that same minute. Within two minutes it was back at $7.60.

It came back once more. At 12:00 p.m. it pushed to $8.26, a lower high under the $8.68 top. Then it slid. The $7.00 bid wall peaked at 26,779 shares in the 11:56 minute.

At 12:08:44 a 20,364-share sell order swept from $7.10 to $6.95, and 11,665 shares traded at exactly $7.00. The $7.00 wall was gone by 12:08:45. The 12:08 candle ended at $6.76. At 12:09:08 it was halted (a volatility pause) with the last trade at $6.76.

It reopened at 12:14:08 at $6.75, a hair below where it stopped, on a 19,978-share print. A 5,000-share buy one second later averaged $6.69 against $6.61 on screen, $404 more. At 12:15 it hit $6.27.

The rest of the day

It slid to $5.88 at 12:49 p.m., then recovered to $7.11 at 2:09 p.m. and $7.17 at 3:26 p.m., both below the $8.68 high. It finished at $6.80 at the close.

After hours it climbed to $7.25 at 5:34 p.m. and dipped to $5.82 at 7:13 p.m. Its last print was $6.01 at 7:59 p.m.

By the close, 6.67 million shares had traded, about 10 times the float. Counting pre-market and after hours, 8.42 million traded: the float changed hands about 13 times, at 54 times its normal volume.

What to take from it

• A halt can reopen higher than it stopped, and the book is thin right after. The second halt stopped at $6.39 and reopened at $7.33. A 5,000-share buy one second later averaged $2,222 above the screen.
• After the top, the next push stopped lower. $8.68 at 11:56 a.m., then $8.26 at 12:00 p.m.
• Size on the book can leave without trading. The 100,201-share bid at $3.82 was pulled at 9:17 a.m., and the $7.00 bid wall, after 11,665 shares traded there at 12:08:44, was gone a second later as the price went through it. Walls are not guarantees.