Recaps · September 22, 2026

RAIN, September 22: a quiet morning, two halts, and $1.54

• Small cap
• Momentum
• Main move: the afternoon
• No news
• Halt run
• Halted twice
• Bid wall broke
• Faded to the close

Float

5.70 million shares

Volume

20.28 million shares

Previous close

$0.6610

Open

$0.6721 (up 1.7%)

High

$1.54 at 2:27 p.m.

Halts

2 (2:22 p.m. and 2:28 p.m.)

Close

$1.02

Pre-market: almost nothing

The official previous close was $0.66. The first trades on the 22nd came at 4:11 a.m. at $0.71, already above that close.

The pre-market high was $0.72 at 4:12 a.m. Only 7,548 shares traded before the bell. For a stock with a 5.70 million share float, that is very quiet.

A flat morning

It opened at $0.67, up 2% from the previous close. Then not much happened. Many minutes had no trades at all. Through 10:40 a.m. it stayed between about $0.67 and $0.70.

A push came at 11:05 a.m. It ran to $0.80, with 11,263 shares in that one minute. It faded back to $0.72 by 11:24. At 11:52 it moved again and reached $0.85 at 11:56. By 12:09 it had dipped to $0.71.

The afternoon run

From $0.73 at 12:24 p.m., it worked back up to $0.85 by 1:07 p.m., matching the 11:56 high. At 1:34 p.m. it began to climb again. It reached $0.94 at 1:40 p.m., up 28% from $0.73.

Volume grew with it. The 1:47 p.m. minute alone traded 269,096 shares. At 1:56 p.m. the price jumped from $0.92 to $1.06 in one minute, on 348,761 shares. It reached $1.09 at 1:58 p.m.

It traded mostly between $0.96 and $1.11 for the next 18 minutes. By 2:11 p.m., more shares had traded than exist in the whole float (5.70 million). It kept pushing: $1.19 at 2:17 p.m., $1.27 at 2:20 p.m., and $1.35 by 2:21 p.m.

The first halt

From 2:22 p.m., about 200,000 shares sat on the bid at $1.35, across all exchanges. That is 3.5% of the float. At 2:22 p.m. it was halted (a volatility pause), with the last trade at $1.35.

It reopened at 2:27 p.m. The opening print was 198,729 shares at $1.41, and the price quickly went to $1.54, the high so far, in the 2:27 minute. Then sellers took over. Within seconds, sell orders swept down through $1.49, $1.45 and $1.42. The minute traded 1.2 million shares.

At 2:28:00 a sell order of 86,743 shares swept from $1.36 to $1.30 across seven levels. The $1.35 bid wall was gone, eaten by sellers. At 2:28 p.m. it was halted again (a volatility pause), with the last trade at $1.30. A large wall of about 224,000 shares was offered at $1.30 just before the halt.

It reopened at 2:33 p.m. The first print was 149,704 shares at $1.26 (the screen price was $1.27). The price kept sliding: $1.16 in the 2:33 minute, and $1.03 at 2:36 p.m., down 33% from $1.54.

A lower high at $1.24

It tried once more. A buy order lifted it from $1.12 to $1.14 at 2:39 p.m. At 2:41 p.m. it pushed to $1.24, a lower high under the $1.54 top. It was back to $1.05 by 2:42 p.m.

The bid at $1.00

From 2:14 p.m. on, a bid sat at exactly $1.00. By 2:48 p.m. there were 74,530 shares bid at $1.00, about 1.3% of the float.

At 2:54:18 p.m. the first trade printed at $1.00. In 4.5 seconds, 60,760 shares traded at exactly $1.00 and the bid was gone. It wasn't pulled. Sellers hit it. At 2:54:23 a sell order of 41,220 shares went from $1.00 to $0.9692 across 35 levels. The 2:54 minute low was $0.96.

The rest of the day

It did not fall apart. It dipped to $0.95 at 3:00 p.m., bounced to $1.17 at 3:26 p.m., and drifted back down. Another bid wall of about 76,000 shares at $1.02 broke at 3:47 p.m. It closed at $1.02.

After hours it traded as low as $0.89 at 4:37 p.m. and ended at $0.90 at 7:59 p.m.

By the close, 19.64 million shares had traded: the float changed hands about 3.4 times, at about 154 times its normal volume.

What to take from it

• A halt can reopen higher than it stopped, and still not hold. The 2:22 p.m. halt stopped at $1.35 and reopened at $1.41. The top came in the same minute.
• After the top, the next push stopped lower. $1.54 at 2:27 p.m., then $1.24 at 2:41 p.m.
• A bid wall is a level, not a floor. The $1.00 bid took 4.5 seconds to break once the first trade printed there.