Hindsight Markets Small-cap stocks on September 3, 2026
DBGI on September 3, 2026: why it ran
On September 3, 2026, DBGI opened down 6.3% from the previous close of 4.47 and reached 8.43 at 8:54 a.m. ET. The exchange halted it 3 times.
- Previous close
- 4.47
- Open, 9:30 a.m.
- 4.19
- Gap at the open
- down 6.3%
- Pre-market high
- 8.43 at 8:54 a.m.
- High, 4 a.m. to 4 p.m.
- 8.43 at 8:54 a.m.
- Low, 4 a.m. to 4 p.m.
- 3.14
- After-hours high, 4 p.m. to 8 p.m.
- 3.94 at 5:15 p.m.
- Last trade before 4:00 p.m.
- 3.62
- Volume
- 1.73 million
- Relative volume
- 24.2x
- Float
- 933,508 shares, from filings as of September 3, 2026
- Shares outstanding
- 933,509
Replay DBGI's day
It starts at 8:35 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 8:38 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: pre-market
- No news in the data
- Lower high
- Halted three times
- Faded to the close
The day before
On September 2, DBGI traded between $4.00 and $5.46 on 97,025 shares. The official close was $4.47. The float is small: 933,508 shares.
The data has no news headline for September 3.
Pre-market: quiet, then a burst from 8:52
The first trade on the 3rd was at 4:00 a.m., one share at $4.67. For almost five hours the stock traded between $4.44 and $4.94, mostly in tiny amounts. Many minutes had no trades at all.
That changed at 8:52. The 8:52 minute opened at $4.99, reached $5.64 and traded 2,913 shares. The 8:53 minute traded 14,883 shares and closed at $5.66.
Then came 8:54. The stock hit $8.43, up 89% from the $4.47 close. The minute ran from a low of $5.42 to $8.43 and traded 166,263 shares. It closed at $6.43.
The next minute was bigger: 223,699 shares, with a high of $6.93 and a low of $5.01. By 8:57 the close was $4.57. The whole spike was gone in about three minutes.
It tried once more. At 8:59 it pushed to $5.90, well under the $8.43 top.
The walls above
While the stock was falling back, sellers stacked shares above it. At 9:00:18 an ask wall appeared at $6.50. At 9:00:39 another appeared at $6.86, with 25,000 shares, 2.7% of the float.
Stop It's 9:01. DBGI is at $5.34, down from the $8.43 high of 8:54. An ask wall of up to 25,000 shares has been sitting at $6.86 since 9:00:39, and there is also an ask wall at $6.50. Would you buy here, hoping for another push?
Press play: the real Level 2, time and sales and chart stop at 9:01 a.m. ET for your call, then show what happened. The clip starts at 8:58 a.m. ET.
Here's what happened. The $6.50 wall peaked at 25,695 shares at 9:03:43. Neither wall was ever hit. The stock drifted down: $5.00 at the close of 9:03, $4.83 at 9:05. By 9:03, more shares had traded than exist in the whole float (933,508). At 9:05:57 both walls were pulled. By 9:06 the low was $4.50.
From there it kept sliding. It was $4.75 at 9:10 and $4.18 at 9:21. At 9:29 the last pre-market minute closed at $4.20. Pre-market volume was 1,247,057 shares, more than the float.
The open and the halts
It opened at $4.19, down 6% from the previous close. In the first seconds it fell hard. At 9:30:54 it was halted (a volatility pause) with the last trade at $3.68. It reopened at 9:35:54 at $3.68.
It bounced to $4.05 and at 9:36:10 it was halted again (another volatility pause). The reopen was at 9:41:10, at $4.06.
Stop It's 9:41. DBGI is coming out of its second halt at $4.06. Before the halt it had bounced from $3.68 to $4.05. Would you buy the reopen?
Press play: the real Level 2, time and sales and chart stop at 9:41 a.m. ET for your call, then show what happened. The clip starts at 9:38 a.m. ET.
Here's what happened. The 9:41 minute ran up to $4.40 and closed at $4.26, on 43,770 shares. The next minute it was down to $3.87.
At 9:43:34 it was halted a third time (a volatility pause), with the last trade at $3.77. It reopened at 9:48:34 at $3.70.
The fade
After the third halt, the stock calmed down. It held around $3.70 to $3.95 until about 10:00 a.m. At 10:28 it broke lower on 13,850 shares. It reached $3.14, the low after the open, at 10:36.
The rest of the day was quiet. It was $3.49 at 11:40 and $3.55 at 1:08 p.m. A late push at 3:57 and 3:58 took it to $3.68. It closed at $3.62.
The regular session traded 440,168 shares, less than half the float. Adding the 1,247,057 pre-market shares, the float changed hands about 1.8 times before the close. Relative volume for the whole day was 24 times normal. Normal volume is tiny, about 71,000 shares a day.
What to take from it
- A spike with no follow-through can be gone in minutes. $8.43 at 8:54 a.m. was $4.57 by the close of 8:57.
- The next push stopped lower. At 8:59 it reached $5.90, far under $8.43.
- These halt reopens were expensive. After two of the three halts, a 5,000-share market buy cost $549 and $733 more than the screen price.
Why it ran
News and SEC filings for DBGI published between the previous session's close and the first minute DBGI traded 20% above it, at 8:52 a.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
| Time (ET) | What happened | Watch it |
|---|---|---|
| 8:52 a.m. | First trade 20% above the previous close of 4.47 | |
| 8:54 a.m. | Pre-market high, 8.43 | |
| 8:54 a.m. | High of the day to the close, 8.43 | |
| 9:03 a.m. | Volume since 4:00 a.m. passes the whole float, 933,508 shares | |
| 9:30 a.m. | The open: 4.19, down 6.3% from the previous close | |
| 9:30 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:35 a.m. | |
| 9:36 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:41 a.m. | |
| 9:43 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:48 a.m. | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 3.62, 57.1% 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: 1.25 million shares before the 9:30 a.m. open (72%), 155,097 in the first 30 minutes (9%), and 323,628 in the rest of the day to 8 p.m. (19%).
- Float rotation, the volume since 4 a.m. against the float of 933,508 shares: past it once at 9:03 a.m.
- The halt at 9:30 a.m.: down 12.8% in the 5 minutes into it, reopened at 3.68, unchanged from the last trade before it.
- The halt at 9:36 a.m.: up 10.1% in the 5 minutes into it, reopened at 4.06, up 0.2% from the last trade before it, then down 7.1% over the next 5 minutes.
- The halt at 9:43 a.m.: down 6.9% in the 5 minutes into it, reopened at 3.70, down 1.9% from the last trade before it, then up 2.7% over the next 5 minutes.
- Other days DBGI met the small-cap rule in our recaps: 3, the latest on September 23, 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) |
| 9:36 a.m. | 9:41 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 9:43 a.m. | 9:48 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 DBGI on September 3, 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.