NUWE on September 17, 2026: why it ran

The day, step by step

• Small cap
• Momentum
• Main move: late morning
• Catalyst: news
• Pre-market spike
• Bid wall break
• Lower high
• Float traded 4.6x

The day before

On September 16, NUWE was quiet. It traded between $0.78 and $0.8611 on 101,859 shares. The official close was $0.815.

At 8:30 a.m. that day, GlobeNewsWire ran a company headline about a new Director of Quality and Regulatory Affairs.

Pre-market: the float traded by 9:03 a.m.

The first trades on the 17th were at $0.7587, below the $0.815 close. That 4:01 a.m. print is the low so far. By 5:12 a.m. it was $0.80, and by 7:29 a.m. it was $0.82. It then sat at $0.82 on thin volume. Through 8:29 a.m., roughly 5,000 shares had traded.

At 8:30 a.m. GlobeNewsWire ran: “Nuwellis Reports Strong Aquadex Console Adoption, with 31 Aquadex SmartFlow Consoles Sold Year-to-Date, Meaningfully Expanding Recurring Revenue Opportunity.” The stock started to move in that same minute, and by 8:36 it was at $0.92.

The big volume came at 8:40 a.m. The pre-market high was $1.10 at 8:40 a.m., in a minute with 373,547 shares. One minute later it was at $0.85, down 23% from $1.10. That minute traded 418,425 shares.

It kept swinging. From $0.86 at 8:42 a.m. it ran to $1.04 at 8:49 a.m., up 21%. Two big single trades printed along the way: 13,753 shares at $0.9652 at 8:45:35 and 21,862 shares at $0.9845 at 8:46:23. Then it fell to $0.77 at 8:54 a.m., down 26% from $1.04. At 8:54:26 one sell order of 35,946 shares went through six price levels, from $0.82 to $0.814.

From $0.77 it ran again, to $0.9989 at 9:00 a.m., up 30%. By 9:03 a.m., more shares had traded than exist in the whole float (3.65 million). The pre-market total was 3.96 million shares. There were no halts all day.

The open

It opened at $0.8557, up 5% from the previous close. The first minute reached $0.89 on 40,042 shares, and then it settled into small moves.

Two big offers sat above the price. An ask wall had been at $1.05 since 8:41:42. It peaked at 172,871 shares at 9:42:46, which is 4.7% of the float, and was pulled at 9:43:26. At that second a new ask wall showed at $0.95. It peaked at 167,060 shares at 9:45:07 and was pulled by 9:45:14. The stock stayed under $0.95 while the $0.95 wall was up.

The run came after 10 a.m. At 10:05:42 a buy order of 36,790 shares went through seven levels, from $0.93 to $0.94. It reached $1.05 at 10:09. At 10:16 it hit $1.08, up 26% from the open. A 20,000-share print at $1.07, at the ask, came through at 10:16:23.

Then it gave some back. From about 10:21 to 10:41 it moved in a range of roughly $0.93 to $1.00.

Late morning: back near $1.10

At 10:40 it was at $0.97. A bid wall appeared at exactly $1.00 at 10:44:45.

Here's what happened. The bid wall at $1.00 grew to 65,789 shares at 10:49:00, which is 1.8% of the float. In the 10:45 minute the stock cleared the pre-market high of $1.10, reaching $1.13 on 103,462 shares. The next minute it hit $1.27. It reached $1.44 at 10:49, on 577,743 shares. The high so far was $1.45, in the 10:50 minute.

The turn came fast. At 10:50:25 one sell order of 43,963 shares went through eight levels, from $1.39 to $1.32. Two seconds later 23,241 shares printed at $1.33, at the bid. At 10:50:27 an ask wall also first showed at $1.50. The 10:50 minute traded 773,642 shares and closed at $1.29. Within a minute it was back at $1.20.

A lower high, then a drop

It came back once more. A buy order of 35,759 shares went through five levels, from $1.33 to $1.37, at 10:56:25. At 10:56 it pushed to $1.39, a lower high under the $1.45 top.

The next minute was the heaviest of the day, 794,310 shares. It fell from $1.31 to $1.04 in the 10:57 minute. It touched $1.03 at 10:59. It bounced to $1.21 by 11:06, then faded. Sell orders of 52,573 shares (11:12:54, $1.10 to $1.05) and 53,818 shares (11:16:13, $1.09 to $1.07) went through the book on the way down.

The bid at $1.01

Here's what happened. The bid at $1.01 first showed at 11:18:12 and peaked at 72,983 shares at 11:19:35, about 2% of the float. At 11:19:30 the first trade printed at $1.01. In 9.7 seconds, 75,452 shares traded at exactly $1.01 and the wall was gone. It wasn't pulled; it traded away.

The 11:19 minute's low was $1.00, and it closed at $1.01. It then held between $1.00 and $1.05 for the next 15 minutes. The $1.00 bid wall then went. 8,300 shares traded at exactly $1.00, from 11:32:28 to 11:32:36, and the wall was pulled at 11:32:37. At 11:35:23 one sell order of 82,008 shares went through 49 price levels, from $1.00 to $0.96. The 11:35 minute low was $0.936 on 209,619 shares.

The rest of the day

It kept fading to $0.8553 at 11:45, the low after the open. Two prints of 12,800 and 14,272 shares at $0.91 went through at 11:45:14. Then it chopped between about $0.88 and $0.95 until 12:50. Far above, the $1.50 ask wall from 10:50 peaked at 82,649 shares (2.3% of the float) at 12:48:24.

It drifted up to $1.03 by 12:59. At 3:09 p.m. a buy order of 47,772 shares went from $1.04 to $1.07. At 3:14 p.m. another, of 36,595 shares, went from $1.05 to $1.09. By 3:22 p.m. it was at about $1.25, the best level since the morning. An ask wall at $1.20 showed at 3:26:48 and peaked at 86,702 shares at 3:27:27. It was pulled at 3:28:38. By 3:42 p.m. it had dipped to $0.9701. It then recovered to $1.10 at the close.

After hours, 645,042 shares traded. It went as high as $1.20 at 5:52 p.m. and was at $0.95 near 8 p.m.

The regular session traded 12.95 million shares. With the pre-market's 3.96 million, that's 16.91 million before the close: the float changed hands about 4.6 times, at about 32 times its normal volume.

What to take from it

• A big bid is not a floor. At $1.01, 75,452 shares traded in 9.7 seconds. The stock held near $1.00 for about 15 more minutes, then dropped to $0.936 at 11:35.
• The lower high came a minute before the drop. $1.45 at 10:50, then $1.39 at 10:56, then $1.04 in the 10:57 minute.
• The float traded over before the open, and the close gave back a lot. By 9:03 a.m. more shares had traded than the float holds. It closed at $1.10, 24% below the $1.45 high.

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