Hindsight Markets Small-cap stocks on August 20, 2026
JZ on August 20, 2026: why it ran
On August 20, 2026, JZ opened up 112.9% from the previous close of 1.70 and reached 5.45 at 9:47 a.m. ET. The exchange halted it 4 times.
- Previous close
- 1.70
- Open, 9:30 a.m.
- 3.62
- Gap at the open
- up 112.9%
- Pre-market high
- 4.44 at 9:27 a.m.
- High, 4 a.m. to 4 p.m.
- 5.45 at 9:47 a.m.
- Low, 4 a.m. to 4 p.m.
- 1.72
- After-hours high, 4 p.m. to 8 p.m.
- 3.53 at 4:00 p.m.
- Last trade before 4:00 p.m.
- 3.29
- Volume
- 16.75 million
- Relative volume
- 339.8x
- Float
- 14.38 million shares, from filings as of August 20, 2026
- Shares outstanding
- 14.41 million
Replay JZ's day
It starts at 9:17 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:20 a.m. and asks what you would do. Or press Play on any moment in How it traded.
The day, step by step
- Small cap
- Momentum
- Main move: the open
- Gap, run and fade
- Halt run
- Halted four times
- Float traded about 1x
- After-hours drop
Pre-market: nothing, then $4.44 in a few minutes
The previous close was $1.70. Before 9:20 a.m. JZ barely traded: a handful of small prints between $1.72 and $1.76.
At 9:20 it woke up and by 9:22 it was near $2.11 on 42,572 shares in that one minute. Then came the real move. At 9:25 it hit $3.50, up from $2.13 in the same minute. At 9:26 it dropped to $2.66.
The next minute went the other way. At 9:27 it hit $4.44, the pre-market high. By 9:29 it was back at $3.11. All of this happened in about five minutes, and 1.97 million shares traded before the bell.
The open and the first halt
It opened at $3.62, up 113% from the previous close. Within the 9:30 minute it was at $4.25, and at 9:30:35 it was halted (a volatility pause).
It reopened at 9:35:35 at $4.25 with a single print of 133,692 shares. In the same second a 49,875-share sell order swept down from $4.26 to $4.01 through 22 price levels. The 9:35 minute went on to reach $5.10, above the $4.44 pre-market high.
At 9:36 it reached $5.25, up 45% from the open. Then it turned. By 9:37 it was at $3.74, and at 9:38:02 it was halted a second time.
The second halt and reopen
It reopened at 9:43:02. A 70,144-share print crossed at $3.60 in that second, and the 9:43 minute traded between $3.51 and $4.59.
By 9:44 it had reached $4.83, and at 9:45 it traded between $4.37 and $4.69.
Stop It's 9:46. JZ is at $4.52. It was $5.25 ten minutes ago, fell to $3.51 at 9:43, and has been climbing back. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 9:46 a.m. ET for your call, then show what happened. The clip starts at 9:43 a.m. ET.
Here's what happened. At 9:47 it hit $5.45, the high so far, 221% above the previous close. The 9:47 minute traded 542,464 shares. At 9:47:54, a 5,000-share market buy showed $5.28 on screen with 132 shares offered. It would have averaged $5.32, $218 more.
Then it turned fast. At 9:48:15 a 28,309-share sell order swept from $5.23 down to $4.96 through 27 levels. Within two minutes it was back at $4.63.
Halts three and four, and the slide
At 9:50 it pushed to $5.19, a lower high under the $5.45 top. The next minute it fell to $3.97, and at 9:51:54 it was halted a third time.
It reopened at 9:56:54 at $4.09, higher than where it stopped, with a 108,966-share print in that second. It did not hold. By 9:57 it was down to $3.39, and at 10:01 it closed the minute at $3.03.
At 10:02:16 it was halted a fourth time, at $2.98. It reopened at 10:07:16 at $2.89 on a 36,872-share print.
Stop It's 10:11. JZ is at $2.92. A minute ago it touched $2.48, after a 26,717-share sell sweep at 10:10. It's down from $5.45 about 25 minutes earlier. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 10:11 a.m. ET for your call, then show what happened. The clip starts at 10:08 a.m. ET.
Here's what happened. At 10:11:26 a 28,377-share buy order swept from $3.01 to $3.30 through 29 levels, and the minute reached $3.30. It didn't last. By 10:16 it was back near $3.00, and until 11:13 it drifted between about $2.62 and $3.12.
Midday lows and a late rally
The late morning was quiet. At 11:17 it reached $3.27, still well under the earlier highs, and then settled around $2.70 to $2.80.
At 12:33 it broke. A 31,732-share sell order went through from $2.65 to $2.45 across 21 levels, and the minute low was $2.32. At 12:43 it hit $2.03, the low after the open.
By 2:34 p.m., counting pre-market, more shares had traded than exist in the whole float (14.38 million). At 2:29 it spiked to $3.41, then slid to $2.38 by 2:55. In the last two minutes before the close it ran from $2.88 to $3.29 at the close, 40% under the $5.45 high.
By the close, 13.57 million shares had traded in the regular session, a bit under the float, at about 340 times its normal volume. It was halted four times.
After hours
The 4:00 p.m. minute touched $3.53. Then it fell. By 4:11 p.m. it was at $2.10, down about 40% in eleven minutes. After hours added 1.21 million shares. It drifted around $2.15 to $2.50 for the rest of the evening.
What to take from it
- Halt reopens were thin here. 5,000-share buys one second after the four reopens cost $489, $808, $159 and $187 more than the screen showed.
- After the top, the next push stopped lower. $5.45 at 9:47, then $5.19 at 9:50. The stock was down near $3.00 by 10:01.
- A halt can reopen higher than it stopped and still fail. The 9:51 halt stopped at $3.97 and reopened at $4.09. The next minute it traded as low as $3.39.
Why it ran
News and SEC filings for JZ published between the previous session's close and the first minute JZ traded 20% above it, at 9:21 a.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
Gap, run and fade. It gapped up 112.9% to 3.62 at the open, ran from the open to the high of 5.45 in 17 minutes through two halts, then gave back 118% of that move by 4:00 p.m., trading at 3.29.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 9:21 a.m. | First trade 20% above the previous close of 1.70 | |
| 9:27 a.m. | Pre-market high, 4.44 | |
| 9:30 a.m. | The open: 3.62, up 112.9% from the previous close | |
| 9:30 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:35 a.m. | |
| 9:38 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:43 a.m. | |
| 9:47 a.m. | High of the day to the close, 5.45 | |
| 9:51 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:56 a.m. | |
| 10:02 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 10:07 a.m. | |
| 2:34 p.m. | Volume since 4:00 a.m. passes the whole float, 14.38 million shares | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 3.29, 39.6% below the high |
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: 1.97 million shares before the 9:30 a.m. open (12%), 5.85 million in the first 30 minutes (35%), and 8.93 million in the rest of the day to 8 p.m. (53%).
- Float rotation, the volume since 4 a.m. against the float of 14.38 million shares: past it once at 2:34 p.m.
- The halt at 9:30 a.m.: up 40.3% in the 5 minutes into it, reopened at 4.25, unchanged from the last trade before it, then down 12.0% over the next 5 minutes.
- The halt at 9:38 a.m.: down 12.0% in the 5 minutes into it, reopened at 3.73, down 0.3% from the last trade before it, then up 44.8% over the next 5 minutes.
- The halt at 9:51 a.m.: down 16.1% in the 5 minutes into it, reopened at 4.09, up 3.0% from the last trade before it, then down 9.0% over the next 5 minutes.
- The halt at 10:02 a.m.: down 12.9% in the 5 minutes into it, reopened at 2.89, down 3.0% from the last trade before it, then up 10.0% over the next 5 minutes.
- Other days JZ met the small-cap rule in our recaps: 4, the latest on October 9, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:30 a.m. | 9:35 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 9:38 a.m. | 9:43 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 9:51 a.m. | 9:56 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 10:02 a.m. | 10:07 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
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.
Trade this day
Replay JZ on August 20, 2026 in Hindsight Markets: the real tape, the order book and the halts, on a clock you control, and see where your orders would have filled.