Hindsight Markets Small-cap stocks on September 23, 2026
VSA on September 23, 2026: why it ran
On September 23, 2026, VSA opened up 1.5% from the previous close of 1.98 and reached 7.12 at 2:41 p.m. ET. The exchange halted it 3 times.
- Previous close
- 1.98
- Open, 9:30 a.m.
- 2.01
- Gap at the open
- up 1.5%
- Pre-market high
- 2.04 at 4:58 a.m.
- High, 4 a.m. to 4 p.m.
- 7.12 at 2:41 p.m.
- Low, 4 a.m. to 4 p.m.
- 1.97
- After-hours high, 4 p.m. to 8 p.m.
- 3.93 at 4:00 p.m.
- Last trade before 4:00 p.m.
- 3.67
- Volume
- 6.47 million
- Relative volume
- 197.9x
- Float
- 27.90 million shares, from filings as of September 23, 2026
- Shares outstanding
- 27.93 million
Why it ran
News and SEC filings for VSA published between the previous session's close and the first minute VSA traded 20% above it, at 1:34 p.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 1.5% at 2.01, then ran from the open to the high of 7.12 in 311 minutes through two halts.
| Time (ET) | What happened |
|---|---|
| 4:58 a.m. | Pre-market high, 2.04 |
| 9:30 a.m. | The open: 2.01, up 1.5% from the previous close |
| 1:34 p.m. | First trade 20% above the previous close of 1.98 |
| 1:48 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:33 p.m. |
| 2:34 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:39 p.m. |
| 2:41 p.m. | High of the day to the close, 7.12 |
| 2:47 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:57 p.m. |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 3.67, 48.5% 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: 2,805 shares before the 9:30 a.m. open (0%), 1,380 in the first 30 minutes (0%), and 6.47 million in the rest of the day to 8 p.m. (100%).
- The halt at 1:48 p.m.: up 26.1% in the 5 minutes into it, reopened at 5.61, up 50.8% from the last trade before it, then up 20.0% over the next 5 minutes.
- The halt at 2:34 p.m.: up 80.9% in the 5 minutes into it, reopened at 6.00, down 10.8% from the last trade before it, then up 5.2% over the next 5 minutes.
- The halt at 2:47 p.m.: down 26.2% in the 5 minutes into it, reopened at 4.80, down 3.0% from the last trade before it, then down 10.6% over the next 5 minutes.
- Other days VSA met the small-cap rule in our recaps: 1, the latest on August 7, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 1:48 p.m. | 2:33 p.m. | 45 min 1 s | LULD pause (limit up-limit down) |
| 2:34 p.m. | 2:39 p.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 2:47 p.m. | 2:57 p.m. | 10 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 VSA 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.