Recaps · August 31, 2026

MOVE, August 31: a 7:45 headline, $17.71, and the slide from the open

• Small cap
• Momentum
• Main move: pre-market
• Catalyst: news
• Gap and fade
• Sold from the open
• No halts

Float

16.40 million shares

Volume

4.13 million shares

Previous close

$11.49

Open

$15.00 (up 30.5%)

High

$17.71 at 8:35 a.m.

Close

$11.00

Before the news

The previous close was $11.49. On August 28 the stock had traded between $10.79 and $11.80, on 25,278 shares. The float is 16.4 million shares.

On the 31st the first trade came at 7:24 a.m.: 10 shares at $11.36, below the previous close. Then nothing printed until 7:45.

7:45: the headline and the first run

At 7:45 a.m. PRNewsWire ran: “Corvex Announces Significant Data Center Expansion; Increasing Current Capacity 5x with Contracted Path to 13x”. The 7:45 minute opened at $13.00 and reached $13.88, on 3,961 shares. It had touched $11.49 in the same minute.

It chopped around $13 for three more minutes, climbed to $14.53 at 7:49, and then at 7:50 a.m. it traded through $15.00 and hit $16.71 on 39,399 shares, up 45% from the previous close.

The next four minutes each traded 51,000 to 67,000 shares. It held between about $14.00 and $16.39. At 7:55 it started to slip, and by 8:04 it was down to $13.44, below where the 7:50 spike had started.

Quiet, then a second push

From 8:08 to 8:18 a.m. it was quiet. It sat between about $14.08 and $14.82 on 3,000 to 10,000 shares a minute. Then at 8:19 it jumped from $14.68 to $15.37 on 61,491 shares.

The 8:21 minute went to $16.75 on 111,638 shares. At 8:21:40 a buy sweep of 11,166 shares went through 17 price levels, from $16.00 to $16.23. At 8:22 it hit $17.46 on 135,187 shares, the heaviest minute of the pre-market. Then it faded to $15.66 by 8:27.

It built back slowly. At 8:35 a.m. it hit $17.71, the high so far, on 110,248 shares. Within three minutes it was back at $16.57. By 9:00 it was at $15.12, and by 9:09 it had slipped to $14.56.

At 9:12 a.m. Benzinga ran: “Corvex Stock Rockets 43% After Announcing 5x Data Center Capacity Expansion”. The stock was near $15 then, and it stayed between about $14.60 and $15.40 until the bell. In all, 2.61 million shares traded before the open. That is about 16% of the float.

The open at $15.00

It opened at $15.00, up 31% from the previous close. The first minute went to $14.38 and closed at $14.39, and it didn't get back to $15 in the next minutes. By 9:32 it was at $14.08.

It kept falling. At 9:33:17 a sell sweep of 16,571 shares went through 28 levels, from $14.10 to $13.80. At 9:33:47 another sold 14,961 shares from $13.55 to $13.25, across 20 levels. The 9:33 minute traded 78,116 shares and closed at $13.61.

At 9:35:31 a third sell sweep took 15,878 shares from $13.08 to $12.80, across 17 levels. The 9:35 minute hit $12.50 on 99,088 shares, the biggest minute of the regular session. By 9:40 the low was $12.00.

Down to $11 and a long chop

From 9:42 to 10 a.m. it bounced between about $11.57 and $12.40. Selling came again at 10:07, when a sell sweep of 11,625 shares ran from $11.57 to $11.33 across 22 levels. At 10:36:53 another took 13,798 shares from $11.05 to $10.90, across 14 levels.

At 10:51 a.m. it traded $10.83 on 18,890 shares. After that it spent hours between roughly $10.94 and $11.60, mostly on a few hundred to a few thousand shares a minute.

At 12:59 p.m. Schaeffers Research ran: “3 Trending Stocks Suffering Steep Midday Slides”. At 1:00 p.m. it pushed to $11.74, a lower high far under the $17.71 top. By 1:08 it was back at $11.25.

The close and after hours

The afternoon was thin. At 3:12 p.m. it dipped to $10.75 on 10,895 shares. The low of the regular session was $10.70 at 3:45 p.m. In the last three minutes, 34,393 shares traded around $11.00, and it closed at $11.00, 38% below the $17.71 high and 4% under the previous close.

After hours it drifted lower, to $10.19 by 7:46 p.m. That was the low of the whole day. 61,419 shares traded after the bell.

The regular session traded 1.45 million shares. Pre-market had traded 2.61 million. The whole day was 4.13 million shares, about a quarter of the float and about 15 times normal volume. There were no halts.

What to take from it

• On this day, most of the volume came before the open. Pre-market traded 2.61 million shares; the regular session traded 1.45 million. The best prices were already behind it at 9:30.
• On this day, the open came well below the high and kept sliding. It opened at $15.00 against a $17.71 high, and $12.50 printed in the 9:35 minute.
• The next push stopped lower. $17.71 at 8:35 a.m., then $11.74 at 1:00 p.m. By the close the stock was under the previous close.