Recaps · October 1, 2026

NXL, October 1: an 8:30 headline, five halts, and $10.98

• Small cap
• Momentum
• Gap, run and fade
• Main move: the morning
• Catalyst: news
• Halted five times
• Halt reopens
• Float traded 37x

Float

711,991 shares

Volume

27.61 million shares

Previous close

$4.21

Open

$8.79 (up 108.8%)

High

$10.98 at 10:06 a.m.

Halts

5 (9:35 a.m. and 9:45 a.m. and 9:56 a.m. and 10:06 a.m. and 10:24 a.m.)

Close

$7.49

Pre-market: the float traded by 8:35 a.m.

NXL closed at $4.21 on September 30. That day 2,872 shares traded.

The first trade on October 1 came at 7:52 a.m., at $4.28. At 8:30 a.m. GlobeNewsWire ran: “Nexalin Technology Signs Definitive Exclusive Distribution and Local Manufacturing Agreement for Brazil and South America, Marking a Major Step in its Transition Toward Commercial Revenue Generation”. Within minutes it jumped to $5.56.

By 8:35 a.m., more shares had traded than exist in the whole float (711,991). From $4.28 it had run to $7.01 at 8:35 a.m., up 64%.

It pulled back to $5.71 at 8:38 a.m., then ran to $7.93 at 8:52 a.m. After that it slid to $6.24 by 9:07 a.m. By 9:12 a.m. the volume was ten times the float.

From $6.31 at 9:11 a.m. it ran to the pre-market high, $9.09 at 9:27 a.m. 10.31 million shares traded before the bell.

The open and the first halt

It opened at $8.79, up 109% from the previous close. It faded fast. At 9:35 a.m. it was at $7.54, and at 9:35:21 it was halted (a volatility pause).

The reopen came at 9:40:21 with a single 47,642-share print at $7.29. A minute later it hit $6.80 at 9:41 a.m., down 25% from the $9.09 pre-market high. Then it turned and climbed to $8.25 by 9:45.

At 9:45:56 it was halted again. It reopened ten minutes later, at 9:55:56, at $9.00. A 155,191-share print went through at that price.

The third halt and the 10:06 reopen

The reopen carried straight up. By 9:56 a.m. it was at $9.90, and at 9:56:11 it was halted for the third time (a volatility pause).

It reopened at 10:06:11 a.m. at $10.47, 6% above the $9.90 where it stopped. A 196,922-share print went through at that price. Then it hit $10.98, the high so far, at 10:06 a.m. and turned straight down.

At 10:06:33 it was halted a fourth time, with the last trade at $9.42. That was the 10:06 candle's close, $1.56 under the high.

The fourth halt and the 10:16 reopen

It reopened at 10:16:34 at $8.34, 11% below where it stopped. A 71,913-share print went through at that price. Within the 10:16 minute it traded as low as $7.81.

It chopped between about $7.64 and $8.26 for a few minutes. Then it fell to $7.15 at 10:24 a.m., down 35% from $10.98. At 10:24:44 it was halted for the fifth time. It reopened at 10:29:44 at $7.41.

A lower high, and a bid that vanished

It came back once more. At 10:54 a.m. it pushed to $8.56, under the $8.64 reached in the 10:16 minute and well under the $10.98 top.

The order book showed something the candles didn't. At 10:37 a.m., a large bid appeared at exactly $6.06, well under the $7.38 price at that minute. The bid peaked at 51,313 shares, about 7% of the float.

At 11:01:04 a.m. it was pulled: the size left the book without trading there. It had sat there for about 23 minutes.

The rest of the day

From 11 a.m. to the close it traded between $6.90 and $8.38. It dipped to $6.90 at 11:24 a.m. and spent most of the afternoon between about $7.10 and $7.70. It finished at $7.49 at the close.

Through the close, 26.66 million shares traded, pre-market included: the float changed hands about 37 times, at over 3,000 times its normal volume. It was halted 5 times.

After hours

At 5:00 p.m. the company filed two 8-Ks. Around that minute the stock was near $7.62. It drifted lower and was at $6.50 at 7:59 p.m. About 944,000 shares traded after hours.

What to take from it

• A halt can reopen lower than it stopped. The 10:06:33 a.m. halt stopped at $9.42 and reopened at $8.34 at 10:16:34.
• The seconds after a reopen can cost more than the screen says. Four seconds after the 10:06 reopen, 5,000 shares averaged $1,067 over the screen price.
• After the top, the next push stopped lower. $10.98 at 10:06 a.m., then $8.56 at 10:54 a.m. It closed at $7.49, 32% below the high.