Recaps · September 29, 2026

SLND, September 29: a 7:00 headline, a $0.95 wall, and $1.05

• Small cap
• Momentum
• Main move: pre-market
• Catalyst: news
• Float traded 5x
• Ask wall break
• Gap and fade

Float

14.58 million shares

Volume

76.85 million shares

Previous close

$0.6100

Open

$0.9190 (up 50.7%)

High

$1.05 at 7:50 a.m.

Close

$0.6900

The day before

On September 28, SLND was a quiet stock. It traded between $0.61 and $0.66, on 37,196 shares for the whole day. The official close was $0.61.

Pre-market: the float traded by 7:32 a.m.

The first trade on the 29th was 5 shares at $0.61 at 4:16 a.m. Then nothing traded until 7:00.

At 7:00 a.m. Business Wire ran: “Southland Awarded $71 Million Water Pipeline Project in the Southwest”. The stock traded as high as $0.67 in that same minute. The volume came in waves after that. At 7:12 and 7:13 a.m. over 1.4 million shares traded, and the 7:13 high was $0.83.

It kept climbing in steps. It touched $1.01 at 7:30 a.m. By 7:32 a.m., more shares had traded than exist in the whole float (14.58 million).

It pulled back to $0.88 by 7:36, then rebuilt. It hit $1.01 again at 7:45.

At 7:50:32 a buy order of 140,716 shares swept from $0.9925 to $1.01 across 20 price levels. In the same second, 46,227 shares printed at $1.00 at the bid. The high so far, $1.05, came in that minute, 7:50 a.m., before the bell. The minute closed at $0.98.

It did not see $1.05 again before the open. It slid to $0.86 at 8:20 a.m., with a 69,834-share sell sweep at 8:20:19. It then chopped mostly between about $0.89 and $0.98 until the open, with a brief dip to $0.82 at 9:01. 43.88 million shares traded before the bell.

The open

It opened at $0.92, 51% above the $0.61 previous close. A 65,981-share print went through at $0.88 at 9:30:00, and the 9:30 minute traded as low as $0.88. By 9:32 it was at $0.97.

The wall at $0.95

The order book showed something the chart didn't.

At 9:44 a.m. the stock fell from $0.92 to $0.87 on 780,439 shares. In that same minute, a lot of stock appeared for sale at exactly $0.95. The price slid to $0.85 by 9:48 and sat in the mid-$0.80s for a while.

The wall grew. It peaked at 177,834 shares at 10:01 a.m., 1.2% of the float. The stock climbed back toward it and reached $0.95 at 10:02.

From 10:10:56 to 10:10:57, 68,955 shares traded at exactly $0.95, and the wall was eaten at 10:10:58.

It pushed to $1.00 at 10:11 a.m., a lower high under the $1.05 top, and held near it through 10:13. Then the 10:14 minute traded 1.26 million shares and dropped from $0.98 to a low of $0.89.

The rest of the day

It tried once more at 10:45. A buy sweep of 127,197 shares ran from $0.9922 to $1.00, and the high was $1.00 again, still under $1.05. A minute later the low was $0.87, and a 58,152-share sell sweep went through at 10:46:33.

The fade came in steps: a 158,528-share sell sweep at 10:54:19, then $0.76 at 11:07 a.m., $0.73 at noon, and $0.66 at 2:35 p.m., the low after the open.

Late in the day, big bid walls showed up on the book. Each was about 200,000 shares (1.4% of the float), and each was pulled after a few minutes: $0.6775 from 3:15, $0.68 from 3:21, $0.69 from 3:27, and $0.70 from 3:37. The price rose from about $0.66 to $0.73 by 3:38–3:40, then settled. A new $0.68 bid wall appeared at 3:54 and peaked at 203,170 shares at 3:59. The stock closed at $0.69.

After hours it ranged between $0.65 and $0.72 on 976,828 shares and ended near $0.66.

Pre-market volume was 43.88 million, and the regular session added 31.99 million. For the whole day, 76.85 million shares traded: the float changed hands about 5 times, at about 1,500 times its normal volume.

What to take from it

• After the top, the next pushes stopped lower. $1.05 at 7:50 a.m., then $1.00 at 10:11 and $1.00 again at 10:45.
• The ask wall at $0.95 was eaten in about a second. 68,955 shares traded at $0.95 between 10:10:56 and 10:10:57, the wall was gone at 10:10:58, the stock reached $1.00 in the 10:11 minute, and it closed at $0.69.
• Most of the move was gone by the close. It closed at $0.69, 34% below the $1.05 high, and most of the volume traded before the open.