Hindsight Markets Small-cap stocks on September 25, 2026
MGLD on September 25, 2026: why it ran
On September 25, 2026, MGLD opened up 95.8% from the previous close of 0.9856 and reached 2.20 at 7:01 a.m. ET. The exchange did not halt it.
- Previous close
- 0.9856
- Open, 9:30 a.m.
- 1.93
- Gap at the open
- up 95.8%
- Pre-market high
- 2.20 at 7:01 a.m.
- High, 4 a.m. to 4 p.m.
- 2.20 at 7:01 a.m.
- Low, 4 a.m. to 4 p.m.
- 1.10
- After-hours high, 4 p.m. to 8 p.m.
- 1.94 at 4:02 p.m.
- Last trade before 4:00 p.m.
- 1.93
- Volume
- 9.31 million
- Relative volume
- 2007.0x
- Float
- 10.31 million shares, from filings as of September 25, 2026
- Shares outstanding
- 42.71 million
- Halts
- none in the halt feed
Replay MGLD's day
It starts at 6:56 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 6:59 a.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: pre-market
- Catalyst: acquisition news
- Ask wall at $1.94
- Tight range after the open
7:00 a.m.: the headline
The previous close was $0.99. At 7:00 a.m. Business Wire ran: “Madison Dearborn Partners Announces Definitive Agreement to Acquire The Marygold Companies”.
The first trades of the day came in that same minute, at $1.16, already above the $0.99 close. The 7:00 candle opened at $1.16, dipped to $1.10 (the low so far) and ran to $2.05.
Stop It's 7:01. MGLD is at $2.05. The acquisition headline came out a minute ago, and the stock is more than double yesterday's $0.99 close. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 7:01 a.m. ET for your call, then show what happened. The clip starts at 6:58 a.m. ET.
The 7:01 candle hit $2.20, the high so far, 123% above the previous close. The top printed inside that minute. The 7:01 candle closed at $1.95, and the 7:02 candle dipped to $1.84.
It pushed again. At 7:03 it reached $2.08, a lower high under the $2.20 top. At 7:10:23 one sell order swept 56,702 shares from $1.95 down to $1.86 across 10 price levels. By 7:15 the stock was trading around $1.87.
Pre-market: bids stack up at $1.87 to $1.90
From 7:22 a.m., buyers began stacking bids just under the price. A bid wall appeared at $1.87 at 7:22:33. Another appeared at $1.88 at 7:31:22, and it peaked at 548,093 shares at 7:38:21. A third appeared at $1.90 at 7:40:31 and peaked at 578,806 shares at 8:11:12, about 5.6% of the 10.3-million-share float.
The price drifted from $1.87 at 7:15 up to $1.98 at 8:16, then settled near $1.94. About 6.85 million shares traded before the bell, around two-thirds of the float.
The open and the wall at $1.94
It opened at $1.93, up 96% from the previous close. The 9:30:00 print was a single 75,513-share trade at $1.93. The low since the open was $1.92, at 9:57.
At 9:31:19 an ask wall showed up at exactly $1.94. It grew through the morning and peaked at 441,238 shares at 10:26:22, about 4.3% of the float. For over an hour the stock traded between $1.92 and $1.94, and most minutes traded only a few thousand shares.
Stop It's 11:04. MGLD is at $1.93. An ask wall has sat at $1.94 since 9:31, and at its peak it held 441,238 shares. The stock has been stuck under it for over an hour. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 11:04 a.m. ET for your call, then show what happened. The clip starts at 11:01 a.m. ET.
Here's what happened. At 11:05:14 a burst of trades hit $1.94. In that one second, 132,332 shares traded at exactly $1.94 and the wall was eaten. One print was 37,500 shares. The 11:05 candle traded 148,259 shares.
The stock didn't run. It closed that minute at $1.94, and the 11:25 candle reached $1.95, the first trade above $1.94 since the 9:30 candle.
Afternoon: more headlines, more walls, no move
At 11:09 Business Wire ran: “MGLD Stock Alert: Halper Sadeh LLC is Investigating Whether The Marygold Companies, Inc. is Obtaining a Fair Price for its Shareholders”. The 11:09 candle stayed at $1.94.
More ask stock appeared. At 11:24:01 a wall showed up at $2.20, the morning's high, and peaked at 594,663 shares at 12:57:37, about 5.8% of the float. At 11:47:21 a new ask wall appeared at $1.94 and peaked at 466,901 shares at 3:45 p.m. Below the price, the morning bid walls went: the one at $1.88 was pulled at 1:35 p.m. and the one at $1.87 at 1:57 p.m.
At 2:16 p.m. ETF Trends ran: “Private Equity Giant MDP Acquiring Marygold Companies”. The price stayed at $1.93 to $1.94. At 2:53:33 two buys hit the ask at $1.93, for 39,369 and 25,000 shares. The 2:53 candle traded 363,295 shares, the biggest volume of the afternoon, while the price moved only half a cent, to $1.93.
The close
It closed at $1.93, the same price as the open and 12% under the $2.20 high of the day. That high came before the bell, at 7:01 a.m., 14% above the open.
The regular session traded 2.29 million shares. With pre-market (6.85 million) and after hours (167,232), the whole day came to 9.31 million shares, just under the 10.3-million float, at over 2,000 times the stock's normal volume.
What to take from it
- On this day the high came in the first two minutes of news. $2.20 at 7:01 a.m., then a lower high of $2.08 at 7:03. After 7:15, the stock stayed between $1.86 and $1.98 through the close.
- What a market buy costs depends on how deep the book is. At the 7:01 high, 5,000 shares cost $269 over the screen. When the $1.94 wall broke at 11:05, the same order cost $0 extra.
- Most of the volume can print before the bell. About 6.85 million of the day's 9.31 million shares traded pre-market, and the regular session was much quieter.
Why it ran
News and SEC filings for MGLD published between the previous session's close and the first minute MGLD traded 20% above it, at 7:00 a.m. ET, newest first, from the same feeds the replay shows.
-
Madison Dearborn Partners Announces Definitive Agreement to Acquire The Marygold Companies
News via Stock News API
How it traded
Gap and hold. It gapped up 95.8% to 1.93 at the open and held above it, trading at 1.93 at 4:00 p.m.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 7:00 a.m. | News (Business Wire): Madison Dearborn Partners Announces Definitive Agreement to Acquire The Marygold Companies | |
| 7:00 a.m. | First trade 20% above the previous close of 0.9856 | |
| 7:01 a.m. | Pre-market high, 2.20 | |
| 7:01 a.m. | High of the day to the close, 2.20 | |
| 9:30 a.m. | The open: 1.93, up 95.8% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 1.93, 12.3% 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
- From news to the move: the first trade 20% above the previous close came less than a minute after the latest news item before it (Business Wire, 7:00 a.m.).
- Volume, from the one-minute bars: 6.85 million shares before the 9:30 a.m. open (74%), 634,898 in the first 30 minutes (7%), and 1.82 million in the rest of the day to 8 p.m. (20%).
- In our recaps, this is the only day MGLD met the small-cap rule.
Halts
The exchange's halt feed shows no halts for MGLD 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 MGLD on September 25, 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.