Hindsight Markets Small-cap stocks on September 25, 2026
SHMD on September 25, 2026: why it ran
On September 25, 2026, SHMD opened up 0.0% from the previous close of 3.62 and reached 5.01 at 12:55 p.m. ET. The exchange halted it 2 times.
- Previous close
- 3.62
- Open, 9:30 a.m.
- 3.62
- Gap at the open
- up 0.0%
- Pre-market high
- 3.70 at 4:33 a.m.
- High, 4 a.m. to 4 p.m.
- 5.01 at 12:55 p.m.
- Low, 4 a.m. to 4 p.m.
- 3.48
- After-hours high, 4 p.m. to 8 p.m.
- 5.38 at 4:56 p.m.
- Last trade before 4:00 p.m.
- 4.38
- Volume
- 5.09 million
- Relative volume
- 19.1x
- Float
- 32.57 million shares, from filings as of September 25, 2026
- Shares outstanding
- 61.64 million
Why it ran
News and SEC filings for SHMD published between the previous session's close and the first minute SHMD traded 20% above it, at 12:41 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 0.0% at 3.62, then ran from the open to the high of 5.01 in 205 minutes through two halts.
| Time (ET) | What happened |
|---|---|
| 4:33 a.m. | Pre-market high, 3.70 |
| 9:30 a.m. | The open: 3.62, up 0.0% from the previous close |
| 12:31 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 12:41 p.m. |
| 12:41 p.m. | First trade 20% above the previous close of 3.62 |
| 12:45 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 12:50 p.m. |
| 12:55 p.m. | High of the day to the close, 5.01 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 4.38, 12.6% 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: 73 shares before the 9:30 a.m. open (0%), 19,894 in the first 30 minutes (0%), and 5.07 million in the rest of the day to 8 p.m. (100%).
- The halt at 12:31 p.m.: up 16.2% in the 5 minutes into it, reopened at 4.60, up 12.7% from the last trade before it, then up 6.7% over the next 5 minutes.
- The halt at 12:45 p.m.: up 20.3% in the 5 minutes into it, reopened at 4.91, unchanged from the last trade before it, then down 5.1% over the next 5 minutes.
- In our recaps, this is the only day SHMD met the small-cap rule.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 12:31 p.m. | 12:41 p.m. | 10 min 0 s | LULD pause (limit up-limit down) |
| 12:45 p.m. | 12:50 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 SHMD 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.