Recaps · August 28, 2026

NCPL, August 28: a 6:05 headline, $1.04, and a wall at $0.67

• Small cap
• Momentum
• Main move: 10:19 to 10:30
• News: 6:05 a.m. headline
• Float traded 4x
• Ask walls
• Lower high after the top

Float

6.71 million shares

Volume

29.56 million shares

Previous close

$0.5386

Open

$0.5919 (up 9.9%)

High

$1.04 at 10:30 a.m.

Close

$0.6984

The day before

On August 27, NCPL ran from $0.47 to a high of $0.75. It gave most of it back and closed at $0.54.

After hours it was back up to $0.65.

Pre-market, the news, and the open

The first trades on the 28th were at $0.59, already above the $0.54 close. The pre-market high was $0.63 at 4:06 a.m. By 4:45 it was drifting lower, and 1.97 million shares traded before the bell.

At 6:05 a.m. GlobeNewsWire ran: “Netcapital Inc. Announces Receipt of Nasdaq Notification Regarding Delayed Annual Report on Form 10-K”. The company also filed an 8-K at 6:05. The stock was trading around $0.57 that minute.

It didn't run on the news. At 6:16 a.m. it dropped to $0.53 on 79,670 shares, the most in one minute since 4:06 a.m. The pre-market low was $0.5253 at 6:25 a.m., under the previous close.

It opened at $0.59, up 10% from the previous close. A single 40,271-share print went through at $0.5919 at 9:30:00. It touched $0.62 at 9:32, then slid. The low since the open was $0.531 at 9:52.

The run

At 10:10 it cleared the pre-market high of $0.63. It reached $0.69 at 10:15, fell back to $0.62 at 10:16, then started again at 10:19 from $0.64.

Volume jumped. 849,418 shares traded in the 10:21 minute and 1.39 million in the 10:22 minute. Counting pre-market, about 6.29 million shares had traded by 10:23, close to the whole float of 6.71 million.

Here's what happened. The wall at $1.10 was first seen at 10:22:14. It peaked at 113,376 shares at 10:23:02, 1.7% of the float. At 10:23:10 a sell sweep of 94,859 shares went from $0.96 to $0.9386 across 32 price levels. The wall was pulled at 10:23:17. The 10:23 minute topped out at $0.98 and closed at $0.8941.

It chopped between about $0.83 and $0.98 for six minutes. At 10:29:06 a buy sweep of 95,603 shares went from $0.8942 to $0.9214. At 10:29:26 another, 101,945 shares, went from $0.937 to $0.96.

The high so far was $1.04, in the 10:30 minute. That minute ran from $0.96 up to $1.04 and down to $0.84, on 1.36 million shares.

After the top

It fell to $0.76 at 10:36. At 10:38 it pushed back to $0.83, a lower high under the $1.04 top.

The 10:39 minute went down to $0.69 on 627,218 shares. At 10:39:20 a sell sweep of 58,995 shares went from $0.7511 to $0.7311. By 10:57 it was at $0.60.

From 10:32 on, ask walls kept appearing above. One at $1.00 was first seen at 10:32:39 and peaked at 92,134 shares at 11:38. One at $0.90 was first seen at 11:31 and peaked at 112,404 shares at 12:42. One at $0.75 was first seen at 12:35 and peaked at 115,538 shares at 1:35 p.m., 1.7% of the float.

It did bounce. At 11:35 it reached $0.78, still under the $0.83 lower high. Then it settled into a range of roughly $0.64 to $0.74 for the afternoon.

The wall at $0.67

At 3:04 p.m. an ask wall appeared at exactly $0.67. It peaked at 84,058 shares at 3:06 p.m., 1.2% of the float.

Here's what happened. Starting at 3:08:27, buyers hit the wall at $0.67. In under a second, 45,155 shares traded at exactly $0.67 and the wall was gone. It wasn't pulled; it was eaten. A 32,682-share print went through at $0.67 at 3:08:28.

The price climbed over the next half hour. It touched $0.70 at 3:15 and $0.73 at 3:35.

The rest of the day

Another ask wall showed up at $0.72 from 3:54 p.m. It peaked at 134,235 shares at 3:56 p.m., 2.0% of the float. The regular session closed at $0.70, 33% under the $1.04 high of the day.

By the close, 26.71 million shares had traded: the float changed hands about 4 times. Relative volume for the day was 2.6. After hours another 872,190 shares traded.

What to take from it

• After the top, each push stopped lower. $1.04 at 10:30, $0.96 at 10:31, then $0.83 at 10:38. The stock was at $0.60 by 10:57.
• An ask wall can end two ways. The $1.10 wall was pulled at 10:23:17. The $0.67 wall was eaten at 3:08. Both showed on the book before they ended.
• The book decides what a fast buy costs. With 7,583 shares on the screen at the high, a 5,000-share buy cost $0 extra. With 300 on the screen after the $0.67 wall broke, it cost $24 extra.