Hindsight Markets / Small-cap stocks on August 3, 2026

PFAI on August 3, 2026: why it ran

Published October 9, 2026 · By Hindsight Markets

On August 3, 2026, PFAI opened down 7.2% from the previous close of 3.00 and reached 4.92 at 11:57 a.m. ET. The exchange halted it 12 times.

Previous close

3.00

Open, 9:30 a.m.

2.79

Gap at the open

down 7.2%

Pre-market high

3.49 at 9:03 a.m.

High, 4 a.m. to 4 p.m.

4.92 at 11:57 a.m.

Low, 4 a.m. to 4 p.m.

2.07

After-hours high, 4 p.m. to 8 p.m.

2.49 at 4:00 p.m.

Last trade before 4:00 p.m.

2.37

Volume

182,109

Relative volume

282.5x

Float

3.57 million shares, from filings as of August 3, 2026

Shares outstanding

11.74 million

Halts

12

Why it ran

News and SEC filings for PFAI published between the previous session's close and the first minute PFAI traded 20% above it, at 11:37 a.m. ET, newest first, from the same feeds the replay shows.

No news found before the move.

How it traded

Intraday run. It opened down 7.2% at 2.79, then ran from the open to the high of 4.92 in 147 minutes through 5 halts.

The shape is a fixed rule, not a judgement: gapped 10% or more at the open, ran 10% or more from the open to the high, and faded if it gave back 30% or more of that move by the close.

The day in numbers

• Volume, from the one-minute bars: 2,363 shares before the 9:30 a.m. open (1%), 890 in the first 30 minutes (0%), and 178,856 in the rest of the day to 8 p.m. (98%).
• The halt at 9:30 a.m.: down 7.0% in the 5 minutes into it, reopened at 3.08, up 0.3% from the last trade before it.
• The halt at 9:51 a.m.: up 5.4% in the 5 minutes into it, reopened at 2.99, up 1.4% from the last trade before it.
• The halt at 11:41 a.m.: up 11.1% in the 5 minutes into it, reopened at 3.95, up 1.5% from the last trade before it, then up 8.9% over the next 5 minutes.
• The halt at 11:47 a.m.: up 10.5% in the 5 minutes into it, reopened at 4.46, up 3.7% from the last trade before it.
• The halt at 11:52 a.m.: up 14.2% in the 5 minutes into it, reopened at 4.92, up 0.2% from the last trade before it, then down 10.0% over the next 5 minutes.
• The halt at 11:58 a.m.: down 9.8% in the 5 minutes into it, reopened at 4.26, down 3.8% from the last trade before it.
• The halt at 12:03 p.m.: down 13.5% in the 5 minutes into it, reopened at 3.58, down 6.5% from the last trade before it, then up 10.1% over the next 5 minutes.
• The halt at 12:14 p.m.: up 2.9% in the 5 minutes into it, reopened at 3.95, up 0.3% from the last trade before it.
• The halt at 12:19 p.m.: down 8.4% in the 5 minutes into it, reopened at 3.09, down 14.4% from the last trade before it, then unchanged over the next 5 minutes.
• The halt at 12:36 p.m.: down 10.1% in the 5 minutes into it, reopened at 2.91, up 2.5% from the last trade before it, then down 6.2% over the next 5 minutes.
• The halt at 12:45 p.m.: down 3.9% in the 5 minutes into it, reopened at 2.75, up 0.7% from the last trade before it, then down 0.4% over the next 5 minutes.
• The halt at 1:01 p.m.: down 6.6% in the 5 minutes into it, reopened at 2.36, down 2.5% from the last trade before it, then up 1.3% over the next 5 minutes.
• Other days PFAI met the small-cap rule in our recaps: 1, the latest on October 7, 2026.

Halts

On this date the LULD plan ran under Amendment 18, in force from February 24, 2020: no band doubling at the open, and the closing doubling only for Tier 1 stocks and Tier 2 stocks whose previous close was at or below three dollars. See LULD halts or work out a band with the LULD calculator.