Recaps · September 29, 2026

SSTI, September 29: a 7:35 headline, $8.75, and a day pinned near $8.30

• Small cap
• Momentum
• Main move: one pre-market minute
• Catalyst: acquisition news
• Gap and flat
• Bid walls
• No halts
• Low float turnover

Float

9.52 million shares

Volume

2.70 million shares

Previous close

$5.47

Open

$8.30 (up 51.7%)

High

$8.75 at 7:35 a.m.

Close

$8.22

Pre-market: one minute, $5.50 to $8.75

The previous close was $5.47. Nothing traded in the bars until 7:35 a.m.

At 7:35 a.m. GlobeNewsWire ran: “SoundThinking to be Acquired by Transom Capital Group”. In that same minute the stock traded from $5.50 to $8.75, up 60% from the previous close. $8.75 was the high so far. It was set before the bell, at 7:35 a.m. The minute closed at $8.06. 77,419 shares traded in it.

The 7:36 candle dipped to $7.91, then closed at $8.33. By 7:42 the price was near $8.07 and the swings were over. 1.19 million shares traded before the bell.

At 7:45 a.m. the company filed an 8-K (a current report). At 8:49 a.m. a tender-offer filing (SC TO-C) followed. From 7:42 to 9:29 the stock stayed between $8.06 and $8.34.

Below the price, a bid wall appeared at $8.01 at 9:09. It peaked at 56,666 shares at 9:23, about 0.6% of the float. A bid wall is a large order to buy sitting at one price.

The open

SSTI opened at $8.30, up 52% from the previous close. At 9:30:00 a single print of 24,430 shares traded at $8.30 on Nasdaq.

Here's what happened. The stock pushed up to $8.43 at 9:31. That was its highest price of the regular session, 13 cents above the open. By 9:36 it was back to $8.30. At 9:43:28 one buy order of 12,836 shares swept through three price levels, $8.31 to $8.33, within 50 milliseconds. The price did not follow through. By 9:46 it was at $8.30 again.

The morning: a wall at $8.30

At 10:05 the WSJ ran: “SoundThinking to Be Taken Private by Transom Capital Group”. The 10:05 bar traded at $8.30 and nothing else.

At 10:08 a bid wall showed up at $8.30. It peaked at 59,479 shares at 10:13, about 0.6% of the float.

Here's what happened. At 10:24:40, 27,958 shares traded at exactly $8.30 in about 0.3 seconds. At 10:24:41 the wall was pulled. The minute's low was $8.28 and it closed at $8.29. 45,218 shares traded in that minute. By 10:38 the price was $8.26.

At 11:23 a.m. GlobeNewsWire ran a shareholder-investigation notice naming SoundThinking, and at 12:05 p.m. Business Wire ran another. The price at those times was $8.26 and $8.25. Many minutes traded under 1,000 shares.

Afternoon and close

The drift stayed small. It was $8.20 at 12:58 p.m. and $8.25 at 2:00. The low after the open was $8.18 at 3:24 p.m., 12 cents under the open.

At 3:56 a bid wall appeared at $8.19. It peaked at 51,686 shares, about 0.5% of the float, and was pulled at 3:59:56. The 3:59 bar closed at $8.22, 6% under the $8.75 high of the day. For the regular session, 1.49 million shares traded.

For the whole day, 2.70 million shares traded, about 0.3 of the float (9.52 million shares). That is about 63 times its normal volume, but normal is tiny: about 43,000 shares a day. No halts.

After hours

Trading was thin after the close. 21,382 shares traded between 4:00 and 8:00 p.m., and many minutes had a handful of shares.

At 5:14 p.m. the company filed an SC 14D9-C (tender offer communications). At 7:12 p.m. PRNewsWire ran: “SSTI SHAREHOLDER ALERT: ADEMI LLP INVESTIGATES WHETHER BUYOUT FAIRLY VALUES SOUTHTHINKING, INC.”.

What to take from it

• One pre-market minute held the whole move. In the 7:35 minute, the same minute as the buyout headline, SSTI traded from $5.50 to $8.75. After 7:42 it stayed between $8.06 and $8.34 until the open.
• After the open the range was narrow. The regular session ranged from $8.18 to $8.43, a 25-cent spread, with the high at 9:31.
• A wall on the screen can be pulled without warning. The $8.30 bid wall was pulled at 10:24:41, and that minute's low was $8.28.