Hindsight Markets Small-cap stocks on September 23, 2026
IPDN on September 23, 2026: why it ran
On September 23, 2026, IPDN opened up 73.7% from the previous close of 3.99 and reached 11.25 at 4:48 a.m. ET. The exchange did not halt it.
- Previous close
- 3.99
- Open, 9:30 a.m.
- 6.93
- Gap at the open
- up 73.7%
- Pre-market high
- 11.25 at 4:48 a.m.
- High, 4 a.m. to 4 p.m.
- 11.25 at 4:48 a.m.
- Low, 4 a.m. to 4 p.m.
- 4.71
- After-hours high, 4 p.m. to 8 p.m.
- 5.76 at 5:57 p.m.
- Last trade before 4:00 p.m.
- 5.37
- Volume
- 14.54 million
- Relative volume
- 18.1x
- Float
- 413,227 shares, from filings as of September 23, 2026
- Shares outstanding
- 481,677
- Halts
- none in the halt feed
Why it ran
News and SEC filings for IPDN published between the previous session's close and the first minute IPDN traded 20% above it, at 4:00 a.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
Gap, run and fade. It gapped up 73.7% to 6.93 at the open, ran from the open to the high of 7.70 in 2 minutes, then gave back 303% of that move by 4:00 p.m., trading at 5.37.
| Time (ET) | What happened |
|---|---|
| 4:00 a.m. | First trade 20% above the previous close of 3.99 |
| 4:04 a.m. | Volume since 4:00 a.m. passes the whole float, 413,227 shares |
| 4:48 a.m. | Pre-market high, 11.25 |
| 4:48 a.m. | High of the day to the close, 11.25 |
| 9:30 a.m. | The open: 6.93, up 73.7% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 5.37, 52.3% 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: 10.95 million shares before the 9:30 a.m. open (75%), 1.37 million in the first 30 minutes (9%), and 2.22 million in the rest of the day to 8 p.m. (15%).
- Float rotation, the volume since 4 a.m. against the float of 413,227 shares: past it once at 4:04 a.m., twice at 4:07 a.m., three times at 4:11 a.m.
- Other days IPDN met the small-cap rule in our recaps: 3, the latest on October 6, 2026.
Halts
The exchange's halt feed shows no halts for IPDN 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 IPDN on September 23, 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.