NAMI on September 28, 2026: why it ran

The day, step by step

• Small cap
• Momentum
• Main move: pre-market and the open
• Catalyst: news at 9:00
• Round-number-adjacent wall
• No halts
• Gap, run and fade
• Float traded in minutes

The day before

On September 25, NAMI traded between $1.57 and $1.73 and closed at $1.59. Only 13,635 shares changed hands. The stock was quiet.

Pre-market: a quiet start, then a headline at 9:00

The first trades on the 28th were at $1.74, already above the $1.59 close. It then drifted down and hit $1.52 at 5:04 a.m., the low so far. Most of the morning had a few trades a minute, or none. At 9:00 it was still $1.60.

At 9:00 a.m. PRNewsWire ran: “Pearson and Namibox Sign Strategic Cooperation Memorandum, Join Forces to Shape a New Global Learning and Education Landscape in the AI Era”. The stock traded through $2.00 in that same minute. By 9:02 it had touched $2.34.

The pre-market high was $2.77 at 9:04 a.m., up from $1.60 four minutes earlier. By 9:06 a.m., more shares had traded than exist in the whole float (2.18 million). It happened in the first minutes after the 9:00 headline, before the 9:30 open.

Then it swung hard. It fell to $2.06 at 9:08, down 26% from $2.77. It ran back to $2.65 at 9:13, then dropped to $2.11 at 9:16. From $2.05 at 9:19 it pushed to $2.54 at 9:29. 5.97 million shares traded before the bell. Most of that came after the headline.

The wall at $2.59

It opened at $2.45, up 54% from the previous close. It dipped to $2.01 by 9:32, then climbed. From $2.05 at 9:33 it ran to $2.58 at 9:35.

The order book showed more than the chart. From 9:35:10 on, someone was offering stock at exactly $2.59. It peaked at 38,991 shares at 9:37, about 2% of the float. The stock pushed up to it and pulled back more than once.

At 9:41:30 the first trade printed at $2.59. In under a second, 47,181 shares traded at exactly $2.59 and the wall was gone. It wasn't pulled. Buyers ate it. One buy order swept 81,062 shares from $2.55 to $2.65 across 11 price levels.

It ran to $2.83, the high so far, in the 9:42 minute. That was up 78% from the previous close. By the end of 9:43 it was at $2.55.

The drop to $1.84

It did not hold. At 9:49:25 a sell order hit for 53,050 shares, from $2.35 down to $2.27 across nine levels. It fell to $2.08 at 9:58, 27% below the high.

Then it went quiet. From 10:00 to 10:36 it mostly stayed between $2.10 and $2.30, with thin volume. Bid walls of about 50,000 shares or more showed up at $2.04, $2.02 and $2.03. Each was pulled. The $2.03 wall was pulled at 10:29:24, right after a 26,038-share sell swept from $2.10 to $2.05.

At 10:40 it broke lower. A 33,281-share sell went through $2.01 to $1.93 at 10:40:08. The low since the open was $1.84 at 10:45. That was below the $2.45 open, and 35% under the high.

Midday

From there it crept up in low volume. It was $2.00 around 11:19. At 11:27 a bid wall of about 50,000 shares showed at $2.09. It was pulled at 11:30. Two prints at $2.09, of 17,467 and 13,730 shares, went through at the ask at 11:32:01. By noon the stock sat around $2.12.

At 12:39 it started to move again. Volume picked up and the price stepped up through $2.30 and $2.39.

At 12:47 it pushed to $2.50, a lower high under the $2.83 top. A 10,000-share trade printed at $2.45, at the bid, at 12:47:31. The wall at $2.50 peaked at 65,598 shares (3% of the float) at 12:47:34. The minute closed at $2.39.

The rest of the day

From there it faded: $2.31 at 1:09, $2.14 at 1:55, and $2.05 at 3:37. It ended the regular session around $2.25 at 3:59 p.m.

After hours it mostly stayed between $2.20 and $2.30. It touched $2.40 at 7:52 p.m. Another 237,700 shares traded after the close.

During the regular session, 9.74 million shares traded, about 4.5 times the float. Counting pre-market and after hours too, 15.94 million shares traded, about 7 times the float. Relative volume was about 15 times normal. There were no halts.

What to take from it

• The float traded in six minutes. By 9:06 a.m. more shares had traded than the float holds. The stock ran and reversed several times before the open.
• An ask wall can break in under a second. The $2.59 wall took 47,181 shares in 0.7 seconds, and the high came about a minute later.
• After the top, the next push stopped lower. $2.83 at 9:42 a.m., then $2.50 at 12:47 p.m. The stock closed the regular session below the open.

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