Recaps · October 8, 2026

SBFM, October 8: a 5 a.m. spike to $1.32, an offering at 8:00, and a $0.47 wall

• Small cap
• Momentum
• Main move: pre-market
• Catalyst: offering
• Float traded 12x
• Ask wall
• Faded to the close

Float

4.24 million shares

Volume

51.57 million shares

Previous close

$0.7000

Open

$0.4700 (up 32.9%)

High

$1.32 at 5:21 a.m.

Close

$0.4297

The day before

On October 7, SBFM ran from $0.39 to $1.56. It gave most of it back and closed at $0.70, on 47 million shares.

At 12:15 a.m. on the 8th, the company filed an EFFECT notice (a registration went effective). That is the only filing on the day's list.

Pre-market: the float traded by 4:47 a.m.

The first trades on the 8th were around $0.74, already above the $0.70 close. It dipped to $0.67 at 4:04 a.m. and then sat near $0.70 for about 20 minutes.

The run started at 4:22 a.m. In four minutes it went from $0.72 to $1.14 at 4:26 a.m. The 4:25 and 4:26 minutes each traded more than 340,000 shares. It touched $1.19 at 4:28, then fell to $0.88 at 4:31 a.m.

It bounced again, to $1.06 at 4:34 a.m. By 4:47 a.m., more shares had traded than exist in the whole float (4.24 million). By 4:49 a.m. it was at $1.15.

Then it spent half an hour between about $0.97 and $1.10. At 5:20 a.m. it started to break out.

Within 10 minutes of the high it was back at $1.13. It tried again and at 5:39 a.m. pushed to $1.25, a lower high under the $1.32 top. By 6:12 a.m. it was down at $0.85.

It chopped between about $0.86 and $1.04 for the next 45 minutes. At 7:00 a.m. it pushed again and made $1.21 at 7:07 a.m., still under $1.32. 45.77 million shares traded before the bell.

8:00 a.m.: the offering

At 7:59 a.m. the stock was at $0.98. At 8:00 a.m. Accesswire ran: “Sunshine Biopharma Inc. Announces Pricing of $6.0 Million Public Offering”.

The 8:00 minute opened at $0.98 and hit $0.51, on 1.5 million shares. In the first seconds, one sell order of 258,058 shares went through 150 price levels, from $0.98 to $0.90. Then two more sweeps followed, down to $0.65.

It kept falling. By 8:10 a.m. it was at $0.43 on 839,441 shares in that minute. A single print of 264,756 shares went through at $0.4529 at 8:10:31. By 8:46 a.m., the float had traded ten times.

The open and the wall at $0.47

Between 8:15 and 9:15 a.m. it held mostly in a $0.44 to $0.50 band. A 124,053-share print went through at $0.47 at 9:30:01, and the stock opened at $0.47, down 33% from the $0.70 close. It slid to $0.44 by 9:34.

From 11:52 a.m., someone was offering stock at exactly $0.47, above the market. It grew to a peak of 707,322 shares at 1:13 p.m., about 17% of the float. The stock was trading near $0.39 then.

Right after the stop, at 2:16, it pushed to $0.42. At 2:30:04 p.m. the wall was pulled, and the stock never reached $0.47 while it was up.

Other walls came and went. A smaller one at $0.48 (about 211,000 shares, 5% of the float) appeared at 2:41 and was pulled at 2:49 p.m.

The rest of the day

The afternoon low after the open was $0.38 at 1:31 p.m. From there it drifted up and was between $0.41 and $0.44 for most of the last hour. It closed at $0.43, 67% under the $1.32 high. That high came before the bell, 181% above the open.

The regular session traded 4.97 million shares. Pre-market was 45.77 million, nine times that. For the whole day, 51.57 million shares traded: the float changed hands about 12 times, at 20 times its normal volume.

What to take from it

• A move that is all pre-market can be gone by the open. The $1.32 high came at 5:21 a.m., and the stock opened at $0.47.
• After the top, the next push stopped lower. $1.32 at 5:21 a.m., then $1.25 at 5:39 a.m. and $1.21 at 7:07 a.m.
• A big wall above the price is not a target. Up to about 707,000 shares sat at $0.47, and then they were pulled without the stock ever reaching them.