Hindsight Markets Small-cap stocks on September 28, 2026
CLRO on September 28, 2026: why it ran
On September 28, 2026, CLRO opened up 68.1% from the previous close of 3.45 and reached 7.30 at 4:24 a.m. ET. The exchange halted it 2 times.
- Previous close
- 3.45
- Open, 9:30 a.m.
- 5.80
- Gap at the open
- up 68.1%
- Pre-market high
- 7.30 at 4:24 a.m.
- High, 4 a.m. to 4 p.m.
- 7.30 at 4:24 a.m.
- Low, 4 a.m. to 4 p.m.
- 4.23
- After-hours high, 4 p.m. to 8 p.m.
- 5.35 at 5:22 p.m.
- Last trade before 4:00 p.m.
- 5.08
- Volume
- 14.21 million
- Relative volume
- 328.0x
- Float
- 2.45 million shares, from filings as of September 28, 2026
- Shares outstanding
- 2.68 million
Replay CLRO's day
It starts at 10:20 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 10:23 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
- Gap and fade
- Main move: pre-market
- Pre-market high of day
- Halted twice
- Bid pulled
- Float traded 6x
The day before
On September 25, CLRO ran from $3.32 to $5.10. It gave almost all of it back and closed at $3.45.
After hours it was back up to $4.92.
Pre-market: the float traded by 4:22 a.m.
The first trades on the 28th were at $5.55, already well above the $3.45 close. It hit $6.50, then fell to $5.03 at 4:02 a.m. That is 23% down from $6.50. Three minutes later it was at $6.71 at 4:05 a.m., up 33% from that low.
By 4:22 a.m., more shares had traded than exist in the whole float (2.45 million). That is 22 minutes into the session. The high so far came two minutes later.
At 4:24 a.m. it reached $7.30, the high so far, 112% above the previous close. One buy order went through 13 price levels at 4:24:14, $7.03 to $7.15, 18,099 shares in all.
Then it slid. It was at $6.52 by 4:37 a.m. and $5.88 at 5:09 a.m., down 19% from the top. At 5:54 a.m. an ask wall appeared at exactly $7.00. It peaked at 38,278 shares at 6:44 a.m., about 1.6% of the float.
At 5:58 a.m. it pushed to $6.67, below the $7.30 top. The 7:00 a.m. minute fell from $5.94 to $5.46 on 157,713 shares, and by 7:14 it was at $5.19. After that it drifted between about $5.20 and $5.95 until the bell. 9.12 million shares traded before the open.
The open and the first halt
It opened at $5.80, up 68% from the previous close. A single 31,963-share trade at $5.84 printed at 9:30:01. It touched $6.00 at 9:31, the regular-session high so far, then slid. By 9:33 it was at $5.35. At 9:37:20 one sell order went through 11 price levels, $5.31 to $5.21.
At 9:37:46 it was halted (a volatility pause) with the last trade at $4.98.
Stop It's 9:42. CLRO has been halted since 9:37, and the last trade was $4.98. Trading resumes in under a minute. Would you buy the reopen?
Press play: the real Level 2, time and sales and chart stop at 9:42 a.m. ET for your call, then show what happened. The clip starts at 9:39 a.m. ET.
It reopened at 9:42:46 at $4.83, 3% below where it stopped. The first print was 37,637 shares at $4.83. The minute ended at $5.13.
The bids at $4.50 and $4.70
At 9:48 a bid wall appeared at $4.00. It peaked at 61,746 shares at 9:49, about 2.5% of the float. At 9:51 another appeared at $4.50, peaking at 53,468 shares at 9:57:18. It was pulled at 9:57:32. About two minutes later the 9:59 minute dropped to $4.59 on 91,869 shares. One sell order went through eight levels, $4.67 to $4.60.
The stock then spent more than an hour between about $4.65 and $5.10. At 11:13 a bid wall appeared at exactly $4.70.
Stop It's 11:21. CLRO is at $4.92. Below it, a large bid wall sits at $4.70; it reached 102,120 shares at 11:20, about 4% of the float. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 11:21 a.m. ET for your call, then show what happened. The clip starts at 11:18 a.m. ET.
The bid had peaked at 102,120 shares at 11:20 a.m. At 11:30:06 it was pulled: the size left the book without trading there. The price at 11:30 was around $4.97.
Midday
At 11:59 a.m. buyers pushed again.
It then held near $4.90 to $5.00 for most of the next hour. A bid of 37,627 shares sat at $4.80 from 1:06 p.m. and was pulled at 1:10.
Stop It's 1:24 p.m. CLRO is at $4.68, down from $4.82 at 1:20. Would you buy the dip?
Press play: the real Level 2, time and sales and chart stop at 1:24 p.m. ET for your call, then show what happened. The clip starts at 1:21 p.m. ET.
At 1:24:53 a sell order went through 18 price levels, $4.60 to $4.43. The 1:25 minute hit $4.23, the low of the day. At 1:25:31 it was halted (a volatility pause) with the last trade at $4.23. One second later the $4.00 bid wall was pulled.
It reopened at 1:30 p.m. at $4.29. The first print was 12,862 shares at $4.29.
The close
It crept up through the afternoon. At 3:41 p.m. a buy order went through eight levels, $4.93 to $5.00. It touched $5.40 at 3:46 and closed at $5.08.
That is 30% under the $7.30 high of the day. The high came before the bell, at 4:24 a.m., 26% above where it opened.
The regular session traded 4.72 million shares. With the 9.12 million pre-market and 363,457 after hours, the full day was 14.2 million: the float changed hands about 6 times, at 328 times its normal volume (normal volume is tiny: about 43,000 shares a day).
What to take from it
- The biggest move came before the open. The high was $7.30 at 4:24 a.m. The open was $5.80, 21% lower, and the regular session did not get above $6.00.
- A halt can reopen lower than it stopped, and the book is thin when it does. The 9:37 halt stopped at $4.98 and reopened at $4.83. A 5,000-share buy one second later averaged $146 over the screen.
- A big bid is not a floor. 102,120 shares sat at $4.70 and were pulled at 11:30:06 without trading there. The wall was in the book from 11:13 to 11:30.
Why it ran
News and SEC filings for CLRO published between the previous session's close and the first minute CLRO 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 and fade. It gapped up 68.1% to 5.80 at the open and traded below the open by 4:00 p.m., at 5.08.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of 3.45 | |
| 4:22 a.m. | Volume since 4:00 a.m. passes the whole float, 2.45 million shares | |
| 4:24 a.m. | Pre-market high, 7.30 | |
| 4:24 a.m. | High of the day to the close, 7.30 | |
| 9:30 a.m. | The open: 5.80, up 68.1% from the previous close | |
| 9:37 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:42 a.m. | |
| 1:25 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 1:30 p.m. | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 5.08, 30.4% 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: 9.12 million shares before the 9:30 a.m. open (64%), 1.43 million in the first 30 minutes (10%), and 3.65 million in the rest of the day to 8 p.m. (26%).
- Float rotation, the volume since 4 a.m. against the float of 2.45 million shares: past it once at 4:22 a.m., twice at 5:27 a.m., three times at 7:22 a.m.
- The halt at 9:37 a.m.: down 12.6% in the 5 minutes into it, reopened at 4.83, down 3.0% from the last trade before it, then down 1.0% over the next 5 minutes.
- The halt at 1:25 p.m.: down 9.6% in the 5 minutes into it, reopened at 4.29, up 1.4% from the last trade before it, then up 3.7% over the next 5 minutes.
- Other days CLRO met the small-cap rule in our recaps: 5, the latest on September 25, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:37 a.m. | 9:42 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 1:25 p.m. | 1:30 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 CLRO on September 28, 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.