Recaps · September 25, 2026

MSGY, September 25: three halts, a $5.95 bid, and $11.42

• Small cap
• Momentum
• Intraday run
• Halted three times
• Float traded 23x
• Halt reopen
• Lower high
• After-hours reversal

Float

807,125 shares

Volume

22.43 million shares

Previous close

$2.04

Open

$2.13 (up 4.4%)

High

$11.42 at 12:02 p.m.

Halts

3 (10:05 a.m. and 10:20 a.m. and 11:06 a.m.)

Close

$8.10

Pre-market: a quiet stock

MSGY closed the day before at $2.04. This is a very small float: 807,125 shares.

Pre-market was thin. The high was $2.16, first hit at 7:31 a.m. 2,249 shares traded before the bell.

The open and the first halt

It opened at $2.13 and ran up through the first 5 minutes to $2.46 at 9:35. By 9:37 it was back at $2.17. Then it built again.

At 10:02 the volume jumped to over 100,000 shares a minute for three straight minutes. It hit $3.34 at 10:04. At 10:05 it fell to $2.39, and at 10:05:47 it was halted (a volatility pause).

It reopened at 10:10:47 at $2.47. A single 18,197-share print went through at $2.47 at that second.

The flush to $2.00 and the second halt

By 10:12 more shares had traded than exist in the whole float (807,125). That minute it fell to $2.00, down 40% from the $3.34 high.

It then climbed back to $3.07 at 10:20, and at 10:20:43 it was halted again. It reopened at 10:25:43 at $2.88, below where it stopped. A 14,825-share print went through at that price.

A slow climb, and ask walls

The next 15 minutes were choppy, between about $2.47 and $3.47. Then it started climbing. At 10:40 an ask wall of about 75,000 shares (9.3% of the float) showed up at $3.74. It was pulled at 10:45:45. Within half a minute of that, two sell sweeps went through the book, the largest 30,172 shares from $3.68 to $3.58.

At 11:00:52 another ask wall appeared, 50,060 shares at $5.04 (6.2% of the float).

The $5.04 wall was pulled at 11:04:33. The 11:04 minute ran to $5.10 and closed at $4.98. At 11:05 it hit $5.55. At 11:06 it reached $5.95. By 11:06 it had traded ten times the float.

The third halt and the $5.95 bid

At 11:06:56 it was halted (a volatility pause) with the last trade at $5.95.

At 11:06:43, a bid for stock appeared at exactly $5.95. It peaked at 62,282 shares at 11:06:51, about 8% of the float. A second bid, up to 45,821 shares, showed up at $6.55 at 11:15.

The halt lasted almost an hour. The stock reopened at 12:02:17 at $9.52, 60% above where it stopped. A single 140,055-share print went through at that price.

The 12:02 minute ran to $11.42, the high of the regular session, with a low of $7.62.

The top and the fade

Within two minutes it was at $9.00. At 12:05 it pushed to $10.87, a lower high under $11.42.

The $6.55 bid was pulled at 12:03:36. At 12:10:42 the $5.95 bid was pulled. At 12:11 the stock fell to $7.68.

It kept fading: $6.96 at 12:24, down to $5.95 at 2:07 and back near $6.40 by 2:20, and a push to $8.48 at 3:55. It closed the regular session at $8.10.

By the close, 18.74 million shares had traded: the float changed hands about 23 times, with a relative volume of about 1,329.

After hours

At 5:00 p.m. it jumped from $7.66 to $8.51, and at 5:04 p.m. it hit $12.68, above the $11.42 regular-session high. It closed that minute at $11.65.

Then it slid. It was $10.06 at 5:12, $9.62 at 5:36, and at 5:37 it dropped to $7.64. By 7:19 p.m. it was at $5.00, down 61% from the high. After hours, 3.70 million shares traded.

What to take from it

• A halt can reopen far higher than it stopped. The 11:06 halt stopped at $5.95 and reopened at $9.52 almost an hour later.
• Chasing a reopen costs more than the screen says. The book was thin at 10:10, 10:25 and 12:02, and the 5,000-share orders cost $349, $636 and $69 over the screen.
• After the top, the next push stopped lower. $11.42 at 12:02, then $10.87 at 12:05. After hours then reached $12.68 and was back to $5.00 by 7:19 p.m.