Hindsight Markets Small-cap stocks on September 3, 2026
TLYS on September 3, 2026: why it ran
On September 3, 2026, TLYS opened up 44.9% from the previous close of 3.83 and reached 6.25 at 9:32 a.m. ET. The exchange halted it once.
- Previous close
- 3.83
- Open, 9:30 a.m.
- 5.55
- Gap at the open
- up 44.9%
- Pre-market high
- 5.57 at 9:29 a.m.
- High, 4 a.m. to 4 p.m.
- 6.25 at 9:32 a.m.
- Low, 4 a.m. to 4 p.m.
- 4.00
- After-hours high, 4 p.m. to 8 p.m.
- 4.40 at 4:03 p.m.
- Last trade before 4:00 p.m.
- 4.24
- Volume
- 6.14 million
- Relative volume
- 35.0x
- Float
- 10.54 million shares, from filings as of September 3, 2026
- Shares outstanding
- 30.49 million
Replay TLYS's day
It starts at 9:14 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:17 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
- Gap, run and fade
- Catalyst: earnings news
- Ask wall at $5.45
- Halted once
- Halt reopened lower
The night before
TLYS closed on September 2 at $3.83. The news came after the close.
At 4:05 p.m. Business Wire ran: “Tilly's, Inc. Beats Outlook, Reports Third Consecutive Quarter of Double-Digit Percentage Comp Sales Increases.” More stories followed: MarketBeat at 6:05 p.m., Zacks at 6:26 p.m. (“Q2 Earnings and Revenues Surpass Estimates”) and a Seeking Alpha call transcript at 8:14 p.m.
The last bar of the evening on September 2 was at $5.19.
Pre-market: a long, flat $4.90s
The first trades on the 3rd, at 4:00 a.m., were at $4.93, already well above the $3.83 close. Then it mostly sat near $4.90 to $5.00 for hours.
At 8:06 a.m. it jumped to $5.20 on 24,415 shares in one minute. It drifted in the $5.00s after that and pushed up through the last half hour.
The pre-market high was $5.57 at 9:29 a.m. 931,707 shares traded before the bell.
The open and the 9:32 spike
It opened at $5.55, up 45% from the previous close.
At 9:30:27 an ask wall appeared at $5.45. It peaked at 61,218 shares at 9:30:59 and was gone at 9:32:30. At 9:32:29 a single trade of 227,729 shares printed at $5.68 on the NYSE.
The 9:32 minute traded 743,095 shares and hit $6.25. By the end of that minute it was at $5.89. At 9:32:49 a sell sweep of 25,865 shares went through 14 price levels, from $6.13 to $5.96.
Stop It's 9:33. TLYS is at $5.94, a minute after printing $6.25. The 9:32 minute alone traded 743,095 shares, far more than any single pre-market minute. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 9:33 a.m. ET for your call, then show what happened. The clip starts at 9:30 a.m. ET.
Here's what happened. At 9:33:04 a 24,000-share trade printed at $5.65, and a sell sweep of 56,498 shares ran from $5.70 to $5.52 across 19 levels. At 9:33:40 it was halted (a volatility pause). The 9:33 minute closed at $5.43.
The halt and the reopen
While it was halted, a new ask wall showed up at $5.40. It was first seen at 9:36:22 and peaked at 102,653 shares (1.0% of the float) at 9:36:37.
It reopened at 9:38:48 at $5.25, below where it stopped. The wall was gone at 9:38:49. The reopen print was 45,975 shares at $5.25.
Stop It's 9:39. TLYS is at $5.17. It reopened seconds ago at $5.25. A new ask wall has appeared at $5.45. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 9:39 a.m. ET for your call, then show what happened. The clip starts at 9:36 a.m. ET.
Here's what happened. The wall at $5.45 peaked at 61,848 shares at 9:39:06. In the same second a sell sweep of 24,337 shares went from $5.23 to $5.01 across 23 levels. The 9:39 minute traded 303,157 shares, fell as low as $4.93 and closed at $5.00. At 9:39:27 another sweep sold 19,884 shares from $5.20 to $5.00.
The drop to $4.25
It kept sliding. Sell sweeps hit at 9:41:17 (35,994 shares, $4.87 to $4.79) and 9:42:51 (20,470 shares, $4.78 to $4.67). It touched $4.62 in the 9:42 minute.
After a quiet stretch near $4.60, it fell again. At 9:53:47 a sell sweep of 52,132 shares ran from $4.53 to $4.34. It hit $4.25 at 9:54 a.m., down 32% from $6.25. A smaller sweep of 20,230 shares hit at 9:54:49.
The rest of the day
It tried once more. At 9:56 it pushed to $4.74, a lower high under the $6.25 top, and faded again.
From there it chopped lower and then sideways: $4.06 at 11:32 a.m., then a drift around $4.10. At 3:44 p.m. it touched $4.00, the low after the open. A late push took it to $4.24 in the last regular minute, 3:59 p.m.
Through the close, 4.95 million shares traded, close to half the 10.5 million float, at about 35 times normal volume.
After hours
At 4:03 p.m. one bar traded 149,614 shares, between $4.11 and $4.40. At 4:05 p.m. the company filed a 10-Q (the quarterly report). After hours, 254,324 shares traded, and it was at $4.30 near 8 p.m.
What to take from it
- After the top, the next push stopped lower. $6.25 at 9:32, then $4.74 at 9:56.
- This halt reopened lower than it stopped, and the book was thin at the reopen. The halt stopped at $5.43 and reopened at $5.25. A 5,000-share buy one second later averaged $5.31 against a $5.16 screen.
- Most of the move was gone by the close. It ended near $4.24, about 32% below the $6.25 high.
Why it ran
News and SEC filings for TLYS published between the previous session's close and the first minute TLYS traded 20% above it, at 4:00 a.m. ET, newest first, from the same feeds the replay shows.
-
Tilly's, Inc. (TLYS) Q2 2027 Earnings Call Transcript
-
Tilly's (TLYS) Q2 Earnings and Revenues Surpass Estimates
-
Tilly's Q2 Earnings Call Highlights
News via Stock News API
How it traded
Gap, run and fade. It gapped up 44.9% to 5.55 at the open, ran from the open to the high of 6.25 in 2 minutes, then gave back 287% of that move by 4:00 p.m., trading at 4.24.
| Time (ET) | What happened | Watch it |
|---|---|---|
| Sep 2, 6:05 p.m. | News (MarketBeat): Tilly's Q2 Earnings Call Highlights | |
| Sep 2, 6:26 p.m. | News (Zacks Investment Research): Tilly's (TLYS) Q2 Earnings and Revenues Surpass Estimates | |
| Sep 2, 8:14 p.m. | News (Seeking Alpha): Tilly's, Inc. (TLYS) Q2 2027 Earnings Call Transcript | |
| 4:00 a.m. | First trade 20% above the previous close of 3.83 | |
| 9:29 a.m. | Pre-market high, 5.57 | |
| 9:30 a.m. | The open: 5.55, up 44.9% from the previous close | |
| 9:32 a.m. | High of the day to the close, 6.25 | |
| 9:33 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:38 a.m. | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 4.24, 32.2% 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
- From news to the move: the first trade 20% above the previous close came 7 hours 45 minutes after the latest news item before it (Seeking Alpha, Sep 2, 8:14 p.m.).
- Volume, from the one-minute bars: 931,707 shares before the 9:30 a.m. open (15%), 2.70 million in the first 30 minutes (44%), and 2.50 million in the rest of the day to 8 p.m. (41%).
- The halt at 9:33 a.m.: down 0.5% in the 5 minutes into it, reopened at 5.25, down 3.3% from the last trade before it, then down 10.7% over the next 5 minutes.
- Other days TLYS met the small-cap rule in our recaps: 1, the latest on September 2, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:33 a.m. | 9:38 a.m. | 5 min 9 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 TLYS 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.