Recaps · August 28, 2026

WCT, August 28: an offering headline, a bid at $1.16, three halts, and nearly $1.35

• Small cap
• Momentum
• Catalyst: offering
• Bid wall break
• Halted three times
• Reopened lower
• Float turned over 3.6x

Float

1.97 million shares

Volume

8.30 million shares

Previous close

$0.7490

Open

$0.3787 (up 49.4%)

High

$1.34 at 3:41 p.m.

Halts

3 (10:58 a.m. and 11:03 a.m. and 11:09 a.m.)

Close

$1.08

The day before and the pre-market

On August 27, WCT traded between $0.59 and $0.92 and closed at $0.75, on 281,628 shares.

At 12:15 a.m. on the 28th the company filed an EFFECT notice (a registration went effective). The first trade was at 4:19 a.m., at $0.77. That was the pre-market high. By 5:59 a.m. it had slipped to $0.70. 581,664 shares traded before the bell.

8:30: the offering headline

At 8:30 a.m. GlobeNewsWire ran: “Wellchange Holdings Company Limited Announces Pricing of $7.5 Million Public Offering of its Class A Ordinary Shares.” The 8:30 minute traded as low as $0.50.

At 8:32 a.m. it hit $0.32, down 58% from the $0.77 pre-market high. The 8:33 minute was the busiest of the pre-market, with 124,813 shares. After that it drifted between about $0.32 and $0.39 until the open.

The open and the first run

It opened at $0.38, down 49% from the $0.75 previous close. The low since the open was $0.37, in the first minute.

It then worked slowly higher. At 9:52 a.m. it touched $0.63, up 66% from the open. At 9:53 a.m. it was back at $0.47, a drop of 25% in one minute. By 10:30 it was near $0.67.

At 10:50 a.m. it traded above the pre-market high of $0.77. At 10:55 it jumped to $0.92. The 10:56 minute reached $1.05 on 266,733 shares. The 10:57 minute reached $1.16 on 454,522 shares.

The bid at $1.16

At 10:57:56 a bid wall appeared at exactly $1.16: a lot of stock that someone was willing to buy at that price.

The bid peaked at 124,955 shares at 10:58:06, about 6% of the float. That same second the stock was halted (a volatility pause) with the last trade at $1.16. From $0.52 at 10:07 a.m., it had run 121% to $1.16.

It reopened at 11:03:06 at $1.17. By 11:03 a.m., counting the pre-market, more shares had traded than exist in the whole float (1.97 million). At 11:03:06, 33,190 shares traded at $1.16, and the bid was eaten at 11:03:07. Sellers hit it. One sell order of 66,728 shares went from $1.16 down to $1.02 across 15 price levels.

The second halt

An ask wall appeared at $1.02 at 11:03:08. It peaked at 192,824 shares at 11:03:18, about 10% of the float. At 11:03:22 the stock was halted again, with the last trade at $1.02. The wall was pulled at 11:05:06. Another ask wall formed at $1.17 from 11:07:37.

It reopened at 11:08:22 at $0.88, 14% below where it stopped. The first print was 58,926 shares at $0.88.

The ask wall at $0.73 peaked at 145,091 shares at 11:09:01, about 7% of the float. That same second it was halted a third time, with the last trade at $0.73.

It reopened at 11:14:01 at $0.65, 11% below where it stopped, on a 98,599-share print. The $0.73 wall was pulled at 11:14:10. A 5,000-share market buy at 11:14:02 saw $0.6765 on the screen and averaged $0.6796, $16 more.

At 11:14 a.m. it fell to $0.59, down 50% from the $1.17 reopen. Then it bounced: $0.80 at 11:15 a.m., up 35% in a minute.

It chopped between about $0.67 and $0.84 for the next 20 minutes. From $0.70 at 11:26 a.m. it ran to $0.93 at 11:37 a.m., up 33%. At 11:37:07 a buy order of 67,200 shares went through $0.8101 to $0.8115 across three levels.

The afternoon and the top near $1.35

Midday was quiet, mostly between $0.77 and $0.90. At 2:13 p.m. the company filed a 424B4 prospectus (an offering's final terms). The 2:13 minute traded around $0.87.

From $0.83 at 1:37 p.m. it ran to $1.30 at 3:39 p.m., up 57%. The 3:31 minute touched $1.00 on 97,837 shares. At 3:41 p.m. it hit just under $1.35, the high of the day, up 80% from the previous close. That minute ranged from just under $1.19 to that high and closed at $1.29.

It faded from there: $1.06 at 3:57 p.m., and $1.08 at the close.

In the regular session, 7.02 million shares traded: the float changed hands about 3.6 times. Another 695,081 traded after hours. Counting the whole day, volume was about 12.6 times normal.

What to take from it

• A halt can reopen lower than it stopped. The 11:03 halt stopped at $1.02 and reopened at $0.88. The next one stopped at $0.73 and reopened at $0.65.
• A big bid is not a floor. The 124,955-share bid at $1.16 was eaten at 11:03:07, the second after the reopen, once sellers hit it.
• Reopen fills can differ a lot. A 5,000-share buy at 11:08:23 cost $193 more than the screen showed, while one at 11:03:07 cost $10 more.