Hindsight Markets Small-cap stocks on September 21, 2026
TOPS on September 21, 2026: why it ran
On September 21, 2026, TOPS opened up 5.3% from the previous close of 0.7120 and reached 0.7500 at 9:30 a.m. ET. The exchange did not halt it.
- Previous close
- 0.7120
- Open, 9:30 a.m.
- 0.7500
- Gap at the open
- up 5.3%
- Pre-market high
- 0.7400 at 9:29 a.m.
- High, 4 a.m. to 4 p.m.
- 0.7500 at 9:30 a.m.
- Low, 4 a.m. to 4 p.m.
- 0.7050
- After-hours high, 4 p.m. to 8 p.m.
- 1.62 at 4:59 p.m.
- Last trade before 4:00 p.m.
- 0.7119
- Volume
- 42.06 million
- Relative volume
- 620.1x
- Float
- 4.24 million shares, from filings as of September 21, 2026
- Shares outstanding
- 7.61 million
- Halts
- none in the halt feed
Why it ran
News and SEC filings for TOPS published between the previous session's close and the first minute TOPS traded 20% above it, at 4:07 p.m. ET, newest first, from the same feeds the replay shows.
How it traded
| Time (ET) | What happened |
|---|---|
| 9:29 a.m. | Pre-market high, 0.7400 |
| 9:30 a.m. | The open: 0.7500, up 5.3% from the previous close |
| 9:30 a.m. | High of the day to the close, 0.7500 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 0.7119, 5.1% below the high |
| 4:06 p.m. | SEC filing SCHEDULE 13D/A: |
| 4:07 p.m. | First trade 20% above the previous close of 0.7120 |
| 4:16 p.m. | Volume since 4:00 a.m. passes the whole float, 4.24 million shares |
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 less than a minute after the latest SEC filing before it (SCHEDULE 13D/A, 4:06 p.m.).
- Volume, from the one-minute bars: 1,534 shares before the 9:30 a.m. open (0%), 14,315 in the first 30 minutes (0%), and 42.04 million in the rest of the day to 8 p.m. (100%).
- Float rotation, the volume since 4 a.m. against the float of 4.24 million shares: past it once at 4:16 p.m., twice at 4:25 p.m., three times at 4:32 p.m.
- Other days TOPS met the small-cap rule in our recaps: 1, the latest on September 22, 2026.
Halts
The exchange's halt feed shows no halts for TOPS that day.
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 TOPS on September 21, 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.