NAMI on September 15, 2026: why it ran

The day, step by step

• Small cap
• Momentum
• Main move: after hours
• Filing: 6-K at 6:26 a.m.
• Float traded pre-market
• Ask walls
• Wall break
• After-hours run

Pre-market: the float traded by 6:53 a.m.

The previous close was $1.80, and the stock was quiet. The day before, only 4,456 shares traded. The first trades on the 15th were at $1.93 at 4:04 a.m., already above that close. Then it barely traded for two hours.

At 6:26 a.m. the company filed a 6-K (a foreign company's current report). Two minutes later, at 6:28, the stock traded at $2.13. We can't say from the data what the filing contained or whether it moved the price. We can say the volume started right then: 456 shares in the 6:26 minute, 34,256 in the 6:31 minute, 120,698 in the 6:35 minute.

It did not run in a straight line. It dropped to $1.83 at 6:29 a.m., down 14% from $2.13. By 6:31 it was at $2.26. For the next seven minutes it swung between about $1.87 and $2.27. It reached $2.35 at 6:38 and $2.38 at 6:44. At 6:45:21 one sell order swept 14,301 shares from $2.26 down to $2.14, across 13 price levels. At 6:50 it was down to $1.93.

By 6:53 a.m., more shares had traded than exist in the whole float (2.17 million). That was less than half an hour after the filing.

The pre-market high came at 7:01. The 7:01 minute reached $2.45, on 249,934 shares, the busiest minute of the whole day.

The top didn't hold. By 7:05 it was back near $2.10. It slid through the morning and hit $1.73 at 8:08 a.m., down 29% from $2.45. Pre-market volume ended at 4.83 million shares.

At 9:00 a.m. PRNewsWire ran: “Jinxin Technology Holding Company Deploys AIGC Content Assets, Exploring Industrialization and Global Distribution Loop for AI Micro‑Dramas and Unlocking Potential Long‑Term Valuation Upside”. The 9:00 minute traded between $1.90 and $1.98.

The open and the wall at $2.15

It opened at $1.95, up 8% from the previous close. It touched $2.02 in the 9:31 minute, dipped to $1.87 at 9:34, and spent most of the time until 9:50 between $1.90 and $1.95. After 9:51 it climbed, reaching $2.08 by 10:00.

Here is what the chart doesn't show. Since 8:15 a.m. someone had been offering stock at exactly $2.15. By 10:19 that ask wall had grown to 89,447 shares, 4.1% of the float.

Here's what happened. In the 10:20 minute it touched $2.15, up 10% from the open. It didn't trade above $2.15 again before noon. By 10:26 it was at $2.04.

The wall steps down, and the drop to $1.76

At 10:35:34 the $2.15 wall was pulled. In the same second a new ask wall appeared at $2.06. It peaked at 76,458 shares at 10:37, then was pulled at 10:41:26. A wall at $2.02 showed up that second, peaked at 78,806, and was pulled at 10:52:06. A wall at $1.99 took its place that second and peaked at 76,819 shares.

Each wall was about 3.5% of the float, and each sat a little lower than the last. Over those 30 minutes the price slid from $2.04 to $1.95, with a small bounce to $2.02 at 10:49.

The $1.99 wall was pulled at 11:04:27. In that minute the stock fell from $1.96 to a low of $1.82 on 42,840 shares. A smaller wall of 40,863 shares appeared at $1.83 and was pulled at 11:06:11. The stock hit $1.76 at 11:06 a.m., down 18% from $2.15.

It recovered slowly on thin volume: $1.88 by 11:13, $1.98 at 11:59, $2.00 at 12:06.

The wall at $2.03

From 11:38 a.m. on, someone was offering stock at exactly $2.03. The wall peaked at 38,096 shares at 12:14 p.m., 1.8% of the float. The price crept up toward it. The 12:14 minute traded at $2.00 to $2.02, and the 12:15 minute printed 400 shares at $2.03.

Here's what happened. At 12:17:02 a 37,092-share print went through at $2.03. A buy order swept 39,447 shares from $2.03 to $2.07 across five levels. In under a second, 37,406 shares traded at exactly $2.03 and the wall was gone. It wasn't pulled. Buyers ate it.

The stock kept going. It traded $2.12 at 12:18 and $2.17 at 12:23.

The afternoon and the close

At 1:02 p.m. another buy order swept 11,210 shares from $2.11 to $2.16 across six levels. At 1:08 it pushed to $2.32, tied for the high of regular hours, but still below the $2.45 pre-market top. It was back at $2.12 by 1:10, and then it settled into a range of about $2.05 to $2.20 until 3:48.

In the last minute, 3:59, it touched $2.32 again on 46,234 shares. The last regular-session bar closed at $2.28, up 26% on the day.

Regular session volume was 1.02 million shares. Pre-market had been 4.83 million, almost five times as much.

After hours: the high of the day

From 4:01 p.m. until 4:47 p.m. it stayed between about $2.11 and $2.23 on very light volume. Then it took off. It was at $2.33 at 4:48, $2.87 by the end of 4:50, and $3.33 at 4:55. Our data shows no news or filing in that window.

It dipped to $2.65 at 4:59, then ran again. It hit $3.55 at 5:08 and $3.80 at 5:48 p.m., the high of the day, up 80% from the $2.11 it traded at 4:07 p.m. The last after-hours bar, at 7:59 p.m., closed at $3.32.

After hours was the busiest session: 6.34 million shares, against 1.02 million in regular hours. For the whole day, 12.19 million shares traded: the float changed hands about 5.6 times, at 461 times normal volume (normal is about 26,000 shares a day).

What to take from it

• On this day, the ask wall kept stepping down. The $2.15 wall was pulled at 10:35, and new walls showed up lower at $2.06, $2.02 and $1.99. Over the next half hour the price fell from $2.04 to $1.76.
• Depth decides what a market buy costs. At 7:01 a.m., with 14,719 shares on offer, 5,000 shares cost nothing extra. At 12:17 p.m., with 1,472 shares on offer, the same order cost $121 more than the screen.
• The day's high doesn't have to come in regular hours. The regular-session range was $1.76 to $2.32. The $3.80 high came at 5:48 p.m.

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