Hindsight Markets Small-cap stocks on September 25, 2026
STEM on September 25, 2026: why it ran
On September 25, 2026, STEM opened up 13.8% from the previous close of 3.90 and reached 4.66 at 2:56 p.m. ET. The exchange did not halt it.
- Previous close
- 3.90
- Open, 9:30 a.m.
- 4.44
- Gap at the open
- up 13.8%
- Pre-market high
- 4.47 at 7:42 a.m.
- High, 4 a.m. to 4 p.m.
- 4.66 at 2:56 p.m.
- Low, 4 a.m. to 4 p.m.
- 3.96
- After-hours high, 4 p.m. to 8 p.m.
- 4.69 at 7:58 p.m.
- Last trade before 4:00 p.m.
- 4.47
- Volume
- 373,620
- Relative volume
- 5.6x
- Float
- 9.15 million shares, from filings as of September 25, 2026
- Shares outstanding
- 9.63 million
- Halts
- none in the halt feed
Why it ran
News and SEC filings for STEM published between the previous session's close and the first minute STEM traded 20% above it, at 6:44 p.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
Gap and hold. It gapped up 13.8% to 4.44 at the open and held above it, trading at 4.47 at 4:00 p.m.
| Time (ET) | What happened |
|---|---|
| 7:42 a.m. | Pre-market high, 4.47 |
| 9:30 a.m. | The open: 4.44, up 13.8% from the previous close |
| 2:56 p.m. | High of the day to the close, 4.66 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 4.47, 4.1% below the high |
| 6:44 p.m. | First trade 20% above the previous close of 3.90 |
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: 63,326 shares before the 9:30 a.m. open (17%), 49,689 in the first 30 minutes (13%), and 260,605 in the rest of the day to 8 p.m. (70%).
- In our recaps, this is the only day STEM met the small-cap rule.
Halts
The exchange's halt feed shows no halts for STEM 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 STEM 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.