Hindsight Markets / Small-cap stocks on August 21, 2026

RFAI on August 21, 2026: why it ran

Published October 11, 2026 · By Hindsight Markets

On August 21, 2026, RFAI opened up 204.2% from the previous close of 13.15 and reached 114.85 at 4:01 a.m. ET. The exchange halted it 7 times.

Previous close

13.15

Open, 9:30 a.m.

40.00

Gap at the open

up 204.2%

Pre-market high

114.85 at 4:01 a.m.

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

114.85 at 4:01 a.m.

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

22.85

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

64.33 at 4:05 p.m.

Last trade before 4:00 p.m.

62.70

Volume

2.15 million

Relative volume

139.9x

Float

734,827 shares, from filings as of August 21, 2026

Shares outstanding

4.00 million

Halts

7

Why it ran

News and SEC filings for RFAI published between the previous session's close and the first minute RFAI 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, run and fade. It gapped up 204.2% to 40.00 at the open, ran from the open to the high of 72.98 in 374 minutes through 6 halts, then gave back 31% of that move by 4:00 p.m., trading at 62.70.

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: 823,788 shares before the 9:30 a.m. open (38%), 237,185 in the first 30 minutes (11%), and 1.09 million in the rest of the day to 8 p.m. (51%).
• Float rotation, the volume since 4 a.m. against the float of 734,827 shares: past it once at 9:09 a.m., twice at 12:00 p.m.
• The halt at 9:30 a.m.: up 8.6% in the 5 minutes into it, reopened at 48.10, up 4.9% from the last trade before it, then up 10.0% over the next 5 minutes.
• The halt at 9:41 a.m.: up 15.4% in the 5 minutes into it, reopened at 52.91, unchanged from the last trade before it, then down 2.4% over the next 5 minutes.
• The halt at 10:19 a.m.: down 13.2% in the 5 minutes into it, reopened at 45.32, unchanged from the last trade before it, then up 9.0% over the next 5 minutes.
• The halt at 12:13 p.m.: down 12.6% in the 5 minutes into it, reopened at 35.41, up 0.5% from the last trade before it, then up 7.7% over the next 5 minutes.
• The halt at 3:26 p.m.: up 9.6% in the 5 minutes into it, reopened at 57.50, up 3.9% from the last trade before it, then up 20.0% over the next 5 minutes.
• The halt at 3:34 p.m.: up 24.6% in the 5 minutes into it, reopened at 71.76, up 4.0% from the last trade before it, then down 12.6% over the next 5 minutes.
• The halt at 3:45 p.m.: down 9.1% in the 5 minutes into it, reopened at 58.00, down 7.5% from the last trade before it, then up 5.9% over the next 5 minutes.
• Other days RFAI met the small-cap rule in our recaps: 1, the latest on August 20, 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.