Hindsight Markets Small-cap stocks on September 22, 2026
RAIN on September 22, 2026: why it ran
On September 22, 2026, RAIN opened up 1.7% from the previous close of 0.6610 and reached 1.54 at 2:27 p.m. ET. The exchange halted it 2 times.
- Previous close
- 0.6610
- Open, 9:30 a.m.
- 0.6721
- Gap at the open
- up 1.7%
- Pre-market high
- 0.7200 at 4:12 a.m.
- High, 4 a.m. to 4 p.m.
- 1.54 at 2:27 p.m.
- Low, 4 a.m. to 4 p.m.
- 0.6612
- After-hours high, 4 p.m. to 8 p.m.
- 1.05 at 5:31 p.m.
- Last trade before 4:00 p.m.
- 1.02
- Volume
- 20.28 million
- Relative volume
- 153.8x
- Float
- 5.70 million shares, from filings as of September 22, 2026
- Shares outstanding
- 11.70 million
Replay RAIN's day
It starts at 2:07 p.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 2:10 p.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: the afternoon
- No news
- Halt run
- Halted twice
- Bid wall broke
- Faded to the close
Pre-market: almost nothing
The official previous close was $0.66. The first trades on the 22nd came at 4:11 a.m. at $0.71, already above that close.
The pre-market high was $0.72 at 4:12 a.m. Only 7,548 shares traded before the bell. For a stock with a 5.70 million share float, that is very quiet.
A flat morning
It opened at $0.67, up 2% from the previous close. Then not much happened. Many minutes had no trades at all. Through 10:40 a.m. it stayed between about $0.67 and $0.70.
A push came at 11:05 a.m. It ran to $0.80, with 11,263 shares in that one minute. It faded back to $0.72 by 11:24. At 11:52 it moved again and reached $0.85 at 11:56. By 12:09 it had dipped to $0.71.
The afternoon run
From $0.73 at 12:24 p.m., it worked back up to $0.85 by 1:07 p.m., matching the 11:56 high. At 1:34 p.m. it began to climb again. It reached $0.94 at 1:40 p.m., up 28% from $0.73.
Volume grew with it. The 1:47 p.m. minute alone traded 269,096 shares. At 1:56 p.m. the price jumped from $0.92 to $1.06 in one minute, on 348,761 shares. It reached $1.09 at 1:58 p.m.
It traded mostly between $0.96 and $1.11 for the next 18 minutes. By 2:11 p.m., more shares had traded than exist in the whole float (5.70 million). It kept pushing: $1.19 at 2:17 p.m., $1.27 at 2:20 p.m., and $1.35 by 2:21 p.m.
The first halt
From 2:22 p.m., about 200,000 shares sat on the bid at $1.35, across all exchanges. That is 3.5% of the float. At 2:22 p.m. it was halted (a volatility pause), with the last trade at $1.35.
Stop It's 2:27. RAIN is about to reopen after a five-minute halt that stopped at $1.35. Yesterday's close was $0.66 and the stock is up a lot today. Would you buy the reopen at $1.42?
Press play: the real Level 2, time and sales and chart stop at 2:27 p.m. ET for your call, then show what happened. The clip starts at 2:24 p.m. ET.
It reopened at 2:27 p.m. The opening print was 198,729 shares at $1.41, and the price quickly went to $1.54, the high so far, in the 2:27 minute. Then sellers took over. Within seconds, sell orders swept down through $1.49, $1.45 and $1.42. The minute traded 1.2 million shares.
At 2:28:00 a sell order of 86,743 shares swept from $1.36 to $1.30 across seven levels. The $1.35 bid wall was gone, eaten by sellers. At 2:28 p.m. it was halted again (a volatility pause), with the last trade at $1.30. A large wall of about 224,000 shares was offered at $1.30 just before the halt.
It reopened at 2:33 p.m. The first print was 149,704 shares at $1.26 (the screen price was $1.27). The price kept sliding: $1.16 in the 2:33 minute, and $1.03 at 2:36 p.m., down 33% from $1.54.
A lower high at $1.24
It tried once more. A buy order lifted it from $1.12 to $1.14 at 2:39 p.m. At 2:41 p.m. it pushed to $1.24, a lower high under the $1.54 top. It was back to $1.05 by 2:42 p.m.
The bid at $1.00
From 2:14 p.m. on, a bid sat at exactly $1.00. By 2:48 p.m. there were 74,530 shares bid at $1.00, about 1.3% of the float.
Stop It's 2:54. RAIN is at $1.03. A bid that peaked near 74,000 shares at 2:48 sits at $1.00. Would you buy here, just above the bid?
Press play: the real Level 2, time and sales and chart stop at 2:54 p.m. ET for your call, then show what happened. The clip starts at 2:51 p.m. ET.
At 2:54:18 p.m. the first trade printed at $1.00. In 4.5 seconds, 60,760 shares traded at exactly $1.00 and the bid was gone. It wasn't pulled. Sellers hit it. At 2:54:23 a sell order of 41,220 shares went from $1.00 to $0.9692 across 35 levels. The 2:54 minute low was $0.96.
The rest of the day
It did not fall apart. It dipped to $0.95 at 3:00 p.m., bounced to $1.17 at 3:26 p.m., and drifted back down. Another bid wall of about 76,000 shares at $1.02 broke at 3:47 p.m. It closed at $1.02.
After hours it traded as low as $0.89 at 4:37 p.m. and ended at $0.90 at 7:59 p.m.
By the close, 19.64 million shares had traded: the float changed hands about 3.4 times, at about 154 times its normal volume.
What to take from it
- A halt can reopen higher than it stopped, and still not hold. The 2:22 p.m. halt stopped at $1.35 and reopened at $1.41. The top came in the same minute.
- After the top, the next push stopped lower. $1.54 at 2:27 p.m., then $1.24 at 2:41 p.m.
- A bid wall is a level, not a floor. The $1.00 bid took 4.5 seconds to break once the first trade printed there.
Why it ran
News and SEC filings for RAIN published between the previous session's close and the first minute RAIN traded 20% above it, at 11:05 a.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
Intraday run. It opened up 1.7% at 0.6721, then ran from the open to the high of 1.54 in 297 minutes through a halt.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:12 a.m. | Pre-market high, 0.7200 | |
| 9:30 a.m. | The open: 0.6721, up 1.7% from the previous close | |
| 11:05 a.m. | First trade 20% above the previous close of 0.6610 | |
| 2:11 p.m. | Volume since 4:00 a.m. passes the whole float, 5.70 million shares | |
| 2:22 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:27 p.m. | |
| 2:27 p.m. | High of the day to the close, 1.54 | |
| 2:28 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:33 p.m. | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 1.02, 33.8% 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: 7,548 shares before the 9:30 a.m. open (0%), 1,253 in the first 30 minutes (0%), and 20.27 million in the rest of the day to 8 p.m. (100%).
- Float rotation, the volume since 4 a.m. against the float of 5.70 million shares: past it once at 2:11 p.m., twice at 2:34 p.m., three times at 3:10 p.m.
- The halt at 2:22 p.m.: up 14.4% in the 5 minutes into it, reopened at 1.42, up 5.2% from the last trade before it, then down 8.5% over the next 5 minutes.
- The halt at 2:28 p.m.: down 3.7% in the 5 minutes into it, reopened at 1.28, down 1.5% from the last trade before it, then down 14.1% over the next 5 minutes.
- Other days RAIN met the small-cap rule in our recaps: 2, the latest on August 4, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 2:22 p.m. | 2:27 p.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 2:28 p.m. | 2:33 p.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 RAIN on September 22, 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.