RCON on August 25, 2026: why it ran

The day, step by step

• Small cap
• Momentum
• Main move: pre-market
• Catalyst: news
• Float traded 11x
• Spike and fade
• Bid wall break
• Closed near the lows

Before 8:00: nothing happening

The official previous close was $2.87. On August 24 the stock had traded between $2.81 and $3.20.

The pre-market was quiet. From 4:01 a.m. to 7:51 a.m. it stayed between $2.77 and $2.90, mostly on under 250 shares a minute. The low of that stretch was $2.77 at 5:09 a.m.

8:00: the headline and the spike

At 8:00 a.m. PRNewsWire ran: “Recon Technology Wins RMB 9.6 Million Oilfield Production Informatization System Integration Project.” The stock traded through $3.00 in that same minute.

The 8:01 minute reached $3.80. The 8:02 minute reached $5.61 on 315,541 shares.

In that minute it ran to $8.99, the high so far, at 8:03 a.m., up 213% from the previous close. The minute closed at $7.41, and 595,086 shares traded in it. By the end of the 8:03 minute, more shares had traded than exist in the whole float (950,506). A sell order of 14,786 shares swept from $7.51 down to $7.30 across 16 price levels at 8:03:58.

8:04 to 8:28: the walls and the slide

Here the Level 2 book shows what the chart doesn't. From 8:03:54 an ask wall sat at $9.18, above the high. It peaked at 29,520 shares at 8:05:07, about 3% of the float, and was pulled at 8:06:16. The stock did not trade at that price while it was there.

A bid wall appeared at $5.39 at 8:05:03 and peaked at 28,100 shares. It was pulled at 8:06:07.

The stock came back once more. At 8:08 a.m. it pushed to $7.72, a lower high under the $8.99 top. A 16,814-share buy swept from $6.96 to $7.18 across 23 levels at 8:08:05. The next minute it was down to $5.75.

After that, bids and asks kept appearing and disappearing. A $4.10 bid wall (peak 25,574 shares) came and went between 8:12 and 8:14. A $6.95 ask wall (peak 25,407 shares) sat above the price from 8:14 to 8:23.

Big sell orders swept the book on the way down: 14,341 shares from $5.01 to $4.90 at 8:16:29, 14,035 shares from $4.17 to $4.06 at 8:17:59, and 14,193 shares from $3.71 to $3.63 at 8:19:29. By 8:22 it was around $3.28. At 8:28 it fell to $2.80, below the previous close. The pre-market as a whole traded 8.31 million shares.

The bid at $2.90

From 8:46 a.m. a bid for a lot of stock sat at exactly $2.90. It peaked at 26,839 shares at 8:56 a.m., about 3% of the float. Until the open the stock traded between about $3.03 and $3.39, above it. It opened at $3.10, up 8% from the previous close.

At 9:31:54, a sell order of 21,116 shares swept from $3.00 to $2.96.

At 9:32:23 trades began printing at $2.90. In 3.6 seconds, 17,602 shares traded at exactly $2.90 and the wall was gone. It wasn't pulled. It was eaten by trades. The 9:33 minute went to $2.55, and 9:34 reached $2.37.

The rest of the day

After that it drifted down. From 9:35 to noon it held between $2.19 and $2.84. At 12:22:46 one trade of 13,448 shares printed at $2.09, at the bid. A 13,888-share buy swept from $2.09 to $2.12 in the same second.

The regular-session low was $2.01, first reached at 12:54 p.m. An ask wall at $4.00 had been on the book since 9:14 a.m. and peaked at 28,507 shares at 1:25 p.m., far above where the stock traded.

It closed at $2.02. After hours it went lower, with a low of $1.81 at 7:54 p.m.

Through the close, 10.20 million shares traded: the float changed hands about 11 times, at about 30 times its normal volume.

What to take from it

• After the top, the next push stopped lower. $8.99 at 8:03 a.m., then $7.72 at 8:08 a.m.
• A quiet pre-market can turn in one minute. The stock sat near $2.85 for hours. The headline came out at 8:00 a.m., and by the 8:03 minute the stock had reached $8.99.
• A big bid on the book can break. The $2.90 wall had 26,839 shares at its peak. Sellers took it out in under four seconds, and the price kept falling.

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