Hindsight Markets / Small-cap stocks on August 18, 2026

PFSA on August 18, 2026: why it ran

Published October 9, 2026 · By Hindsight Markets

On August 18, 2026, PFSA opened up 95.1% from the previous close of 4.53 and reached 28.32 at 3:33 p.m. ET. The exchange halted it 10 times.

Previous close

4.53

Open, 9:30 a.m.

8.84

Gap at the open

up 95.1%

Pre-market high

12.87 at 4:21 a.m.

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

28.32 at 3:33 p.m.

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

7.81

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

32.82 at 4:12 p.m.

Last trade before 4:00 p.m.

26.81

Volume

25.88 million

Relative volume

146.2x

Float

46,250 shares, from filings as of August 18, 2026

Shares outstanding

46,603

Halts

10

Why it ran

News and SEC filings for PFSA published between the previous session's close and the first minute PFSA traded 20% above it, at 4:00 a.m. ET, newest first, from the same feeds the replay shows.

No news found before the move.

How it traded

Gap and go. It gapped up 95.1% to 8.84 at the open, ran from the open to the high of 28.32 in 363 minutes through 8 halts, and held most of the move into the close: it gave back 8% of it by 4:00 p.m.

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: 6.28 million shares before the 9:30 a.m. open (24%), 3.57 million in the first 30 minutes (14%), and 16.03 million in the rest of the day to 8 p.m. (62%).
• Float rotation, the volume since 4 a.m. against the float of 46,250 shares: past it once at 4:01 a.m., twice at 4:03 a.m., three times at 4:06 a.m.
• The halt at 9:36 a.m.: up 10.9% in the 5 minutes into it, reopened at 10.10, down 4.5% from the last trade before it, then up 14.4% over the next 5 minutes.
• The halt at 9:51 a.m.: up 15.0% in the 5 minutes into it, reopened at 13.31, up 0.4% from the last trade before it, then up 19.7% over the next 5 minutes.
• The halt at 9:58 a.m.: up 20.1% in the 5 minutes into it, reopened at 15.02, down 5.7% from the last trade before it, then down 10.0% over the next 5 minutes.
• The halt at 10:04 a.m.: down 15.1% in the 5 minutes into it, reopened at 12.50, down 7.5% from the last trade before it, then up 2.6% over the next 5 minutes.
• The halt at 10:31 a.m.: down 12.8% in the 5 minutes into it, reopened at 13.00, down 2.9% from the last trade before it, then up 0.6% over the next 5 minutes.
• The halt at 11:38 a.m.: down 10.4% in the 5 minutes into it, reopened at 10.80, down 0.6% from the last trade before it, then down 0.5% over the next 5 minutes.
• The halt at 3:22 p.m.: up 7.4% in the 5 minutes into it, reopened at 23.58, down 5.2% from the last trade before it, then up 10.0% over the next 5 minutes.
• The halt at 3:28 p.m.: up 4.3% in the 5 minutes into it, reopened at 25.10, down 3.2% from the last trade before it, then down 5.1% over the next 5 minutes.
• The halt at 3:35 p.m.: down 8.2% in the 5 minutes into it, reopened at 23.50, down 1.3% from the last trade before it, then up 5.7% over the next 5 minutes.
• The halt at 3:46 p.m.: up 15.8% in the 5 minutes into it, reopened at 27.48, up 2.5% from the last trade before it, then down 7.8% over the next 5 minutes.
• Other days PFSA met the small-cap rule in our recaps: 4, the latest on September 29, 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.