Hindsight Markets Small-cap stocks on September 30, 2026
LGHL on September 30, 2026: why it ran
On September 30, 2026, LGHL opened up 46.3% from the previous close of 4.51 and reached 9.79 at 7:18 a.m. ET. The exchange halted it 6 times.
- Previous close
- 4.51
- Open, 9:30 a.m.
- 6.60
- Gap at the open
- up 46.3%
- Pre-market high
- 9.79 at 7:18 a.m.
- High, 4 a.m. to 4 p.m.
- 9.79 at 7:18 a.m.
- Low, 4 a.m. to 4 p.m.
- 3.25
- After-hours high, 4 p.m. to 8 p.m.
- 5.68 at 4:00 p.m.
- Last trade before 4:00 p.m.
- 4.92
- Volume
- 15.14 million
- Relative volume
- 128.5x
- Float
- 25,786 shares, from filings as of September 30, 2026
- Shares outstanding
- 25,925
Replay LGHL's day
It starts at 7:01 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:04 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: news (after the top)
- Ask-wall breaks
- Halted six times
- Gap and fade
- Float traded 578x
The day before
The official close on September 29 was $4.51. The day itself ran from $5.95 at the open to a high of $6.20 and a low of $4.45, on about 50,000 shares. The float is 25,786 shares, a small float even by small-cap standards.
Pre-market: the float traded by 5:41 a.m.
Almost nothing traded until 5:37 a.m. Then it went through $5.00.
From $4.62 at 5:38 a.m. it ran to $6.79 at 5:41 a.m., up 47%. During that same minute, more shares had traded than exist in the whole float. By 5:44 a.m. the volume was about 12 times the float.
Then it dropped to $4.90 at 5:44 a.m., down 28% from the top of that spike. It spent the next 15 minutes between about $5.00 and $5.80.
From $5.06 at 5:53 a.m. it ran to $6.63 at 6:14 a.m., up 31%. It slipped back under $6 and then started climbing again at 6:29 a.m. from $5.98.
The wall at $8.99
At 7:07:45 a.m. 27,133 shares were offered at exactly $8.99. That is about 105% of the float, in a single price. By then the stock had climbed from $5.98 at 6:29 a.m. to the high $7s. The wall was still on the book at 7:17 while the price kept working higher.
Stop It's 7:17. LGHL is at $8.90, up from $5.98 at 6:29. A wall of up to 27,133 shares has been offered at $8.99 since 7:07. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 7:17 a.m. ET for your call, then show what happened. The clip starts at 7:14 a.m. ET.
At 7:17:02 trades printed at $8.99. In a fifth of a second, 5,754 shares traded at exactly $8.99, and a second later the wall was gone. The 7:17 minute reached $9.78 on 370,781 shares.
The high so far was $9.79, at 7:18 a.m. That was 117% above the $4.51 previous close. Within six minutes it was back at $7.87. 12.40 million shares traded before the bell.
It came back once more. At 7:32 a.m. it pushed to $8.24, a lower high under the $9.79 top. Other walls came and went on the way: 28,325 shares at $7.75 between 8:46 and 8:53 a.m.
The 9:15 headline and the $7.50 wall
At 9:15 a.m. PRNewsWire ran: “Lion Group Holding Ltd. Announces Strategic Treasury Reallocation Toward Hyperliquid (HYPE)”. A 6-K was filed at the same minute. The stock had been at about $6.91 a minute earlier. Within two minutes it traded $7.80, still well under its $9.79 high.
At 9:18 a.m. a new wall showed up at exactly $7.50. It peaked at 26,953 shares, around 105% of the float.
Stop It's 9:22. LGHL is at $7.16, after a push to $7.80 following the 9:15 headline. About 27,000 shares are offered at $7.50. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 9:22 a.m. ET for your call, then show what happened. The clip starts at 9:19 a.m. ET.
Here's what happened. At 9:22:19 that wall was pulled. Five seconds later, at 9:22:24, a new one was on the book at $7.50. At 9:22:26 a sell order of 10,470 shares went through $6.91 to $6.88 across four levels. The 9:23 minute reached a low of $6.45.
It opened at $6.60, up 46% from the previous close. The first minute dropped to $6.06. The headline spike was gone before the bell.
The $7.50 wall grew through the day. It peaked at 28,867 shares at 1:08 p.m., about 112% of the float, and at 3:50:01 p.m. it was pulled. A second wall, at $7.22, appeared at 9:24 a.m. and peaked at 26,129 shares at 9:30 a.m. It was pulled at 3:46 p.m.
Six halts
The first halt came at 9:53:15 a.m. (a volatility pause), after the stock fell from about $6.00 to $5.43 in a minute. It reopened at 9:58:15, and the first print was 15,184 shares at $5.26.
From there it settled between about $4.60 and $5.90 for hours, and traded in a narrow range around $5.10 to $5.40 for most of the middle of the day, with very little volume.
At 1:29 p.m., from $5.17, it dropped hard. In one minute the price went to $4.66, and then it was halted 4 times in 23 minutes. The 1:36 halt stopped at $4.13. It reopened at 1:41 around $4.26, higher. Then the next halts reopened lower: the 1:42 halt stopped near $3.89, and the 1:47 reopen opened at $3.80. The 1:48 halt, ten minutes long, stopped at $3.39. It reopened at 1:58 at $3.30 with a single print of 16,960 shares. The low of the day, $3.25, came at 1:58 p.m.
At 1:59 p.m. it was halted again with the last trade at $3.63. It reopened at 2:14 p.m. at $4.28, 18% above where it stopped. The first print was 14,692 shares at $4.28.
The close and after hours
From 2:14 p.m. it drifted between about $4.00 and $4.60. At 3:45 p.m. a 10,000-share print went off at $4.58 and a buy sweep of 10,906 shares went through $4.58 to $4.63. The 3:45 minute reached $4.95 and closed at $4.92. At 3:45:59 it was halted for the sixth time, and it stayed halted until 4:00 p.m. The 4:00 bar opened at $5.68.
After hours it traded between about $4.70 and $5.70 on thin volume. The last bar, at 7:59 p.m., closed at $4.91, about 50% under the $9.79 high of the day.
Through the 4 p.m. close, 14.89 million shares had traded: the float changed hands about 578 times. Relative volume for the day was about 129. Most of that was before the bell. The regular session itself traded 2.49 million.
What to take from it
- At 7:17:02, 5,754 shares traded at $8.99 in about a fifth of a second, the wall was pulled a second later, and the high of the day printed in the next minute.
- Reopens cost more than the screen says. At 1:41 p.m. the screen showed 44 shares at $4.41. A 5,000-share buy averaged $4.77.
- After the top, the next push stopped lower. $9.79 at 7:18 a.m., then $8.24 at 7:32 a.m. After a headline at 9:15 a.m., the price reached $7.80 by 9:17, still well below the high.
Why it ran
News and SEC filings for LGHL published between the previous session's close and the first minute LGHL traded 20% above it, at 5:40 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 46.3% to 6.60 at the open and traded below the open by 4:00 p.m., at 4.92.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 5:40 a.m. | First trade 20% above the previous close of 4.51 | |
| 5:41 a.m. | Volume since 4:00 a.m. passes the whole float, 25,786 shares | |
| 7:18 a.m. | Pre-market high, 9.79 | |
| 7:18 a.m. | High of the day to the close, 9.79 | |
| 9:30 a.m. | The open: 6.60, up 46.3% from the previous close | |
| 9:53 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:58 a.m. | |
| 1:36 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 1:41 p.m. | |
| 1:42 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 1:47 p.m. | |
| 1:48 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 1:58 p.m. | |
| 1:59 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 2:14 p.m. | |
| 3:45 p.m. | Last trade before the 4:00 p.m. close, 4.92, 49.7% below the high | |
| 3:45 p.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 4:00 p.m. |
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: 12.40 million shares before the 9:30 a.m. open (82%), 897,344 in the first 30 minutes (6%), and 1.84 million in the rest of the day to 8 p.m. (12%).
- Float rotation, the volume since 4 a.m. against the float of 25,786 shares: past it once at 5:41 a.m., twice at 5:41 a.m., three times at 5:42 a.m.
- The halt at 9:53 a.m.: down 13.8% in the 5 minutes into it, reopened at 5.26, down 2.4% from the last trade before it, then down 1.1% over the next 5 minutes.
- The halt at 1:36 p.m.: down 12.5% in the 5 minutes into it, reopened at 4.26, up 3.1% from the last trade before it, then down 8.7% over the next 5 minutes.
- The halt at 1:42 p.m.: down 5.8% in the 5 minutes into it, reopened at 3.80, down 2.3% from the last trade before it, then down 10.8% over the next 5 minutes.
- The halt at 1:48 p.m.: down 12.9% in the 5 minutes into it, reopened at 3.30, down 2.7% from the last trade before it, then up 10.0% over the next 5 minutes.
- The halt at 1:59 p.m.: up 7.1% in the 5 minutes into it, reopened at 4.28, up 17.9% from the last trade before it, then up 0.5% over the next 5 minutes.
- The halt at 3:45 p.m.: up 11.6% in the 5 minutes into it, reopened at 5.68, up 15.4% from the last trade before it, then down 6.7% over the next 5 minutes.
- Other days LGHL met the small-cap rule in our recaps: 5, the latest on October 6, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:53 a.m. | 9:58 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 1:36 p.m. | 1:41 p.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 1:42 p.m. | 1:47 p.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 1:48 p.m. | 1:58 p.m. | 10 min 0 s | LULD pause (limit up-limit down) |
| 1:59 p.m. | 2:14 p.m. | 15 min 23 s | LULD pause (limit up-limit down) |
| 3:45 p.m. | 4:00 p.m. | 14 min 1 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 LGHL on September 30, 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.