Hindsight Markets Small-cap stocks on October 6, 2026
IPDN on October 6, 2026: why it ran
On October 6, 2026, IPDN opened up 102.6% from the previous close of 3.10 and reached 7.10 at 8:35 a.m. ET. The exchange halted it 2 times.
- Previous close
- 3.10
- Open, 9:30 a.m.
- 6.28
- Gap at the open
- up 102.6%
- Pre-market high
- 7.10 at 8:35 a.m.
- High, 4 a.m. to 4 p.m.
- 7.10 at 8:35 a.m.
- Low, 4 a.m. to 4 p.m.
- 3.01
- After-hours high, 4 p.m. to 8 p.m.
- 4.98 at 5:40 p.m.
- Last trade before 4:00 p.m.
- 4.61
- Volume
- 32.97 million
- Relative volume
- 20.2x
- Float
- 413,227 shares, from filings as of October 6, 2026
- Shares outstanding
- 481,677
Replay IPDN's day
It starts at 7:21 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:24 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: 8-K filing
- Gap and fade
- Halted twice
- Regular-session volume about 28x the float
Pre-market: the float traded by 7:28 a.m.
IPDN closed the day before at $3.10. Until 7:25 a.m. it barely traded. Between 4:05 a.m. and 6:31 a.m. there were 13 small bars, all between $3.01 and $3.11.
At 7:24 a.m. the company filed an 8-K. The data shows only the filing and its time, not what it said. The first busy minute was 7:25, and the stock ran from $3.09 to $3.60 in it. By 7:26 it had touched $3.85.
By 7:28 a.m., more shares had traded than exist in the whole float (413,227). The 7:28 bar alone was 431,413 shares. The stock hit $4.85 at 7:29 a.m., up 57% from $3.09. Then it fell to $3.69 at 7:31 a.m., down 24%.
It ran again from $3.85 at 7:32 a.m. to $5.29 at 7:39 a.m., up 37%. By 7:40 a.m. the volume was over ten times the float. A dip to $3.97 at 7:46 came next. The stock then climbed from $4.08 at 7:50 a.m. to $5.52 at 7:58 a.m., up 35%.
The $6.51 wall
At 8:02 a.m. a large offer appeared at exactly $6.51. It peaked at 72,265 shares, about 17.5% of the float. It stayed for about nine minutes and was pulled at 8:11:24.
The stock was about $5.58 when the wall appeared. It was between $5.57 and $6.10 in the minute the wall left, and reached $6.25 at 8:12. At 8:14 it reached $6.87. At 8:20 it touched $6.97. From 8:21 to 8:34 it ranged between $5.80 and $6.86.
Stop It's 8:35. IPDN is at $6.44. The pre-market high so far is $6.97, and the float has traded more than ten times over. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 8:35 a.m. ET for your call, then show what happened. The clip starts at 8:32 a.m. ET.
Here's what happened. At 8:35:43 a single buy order swept up through 16 price levels, from $6.95 to $7.10, in about 50 milliseconds. That was 45,565 shares. $7.10 became the high so far, before the bell. Within two minutes the stock was back at $6.65. A total of 20.98 million shares traded before the open.
Into the open
From $7.10 the stock drifted down. It was at $5.85 by 8:49 a.m. and back to $6.28 by 9:00 a.m. It chopped between $5.98 and $6.60 through the 9:20s.
Two more book levels mattered. From 8:53 a.m. a large bid sat at exactly $5.06. It was 48,170 shares at first sight, about 12% of the float. And from 9:19 a.m. a similar-sized offer (48,026 shares) sat at $7.91.
Stop It's 9:30. IPDN opens at $6.28, up 103% from the $3.10 previous close. A big bid sits at $5.06 and a big offer at $7.91. Would you buy the open?
Press play: the real Level 2, time and sales and chart stop at 9:30 a.m. ET for your call, then show what happened. The clip starts at 9:27 a.m. ET.
It pushed to $6.78 in the first minute, a lower high than $7.10. Then it turned. At 9:31:50 it was halted (a volatility pause) with the last trade at $5.84, down from $6.63 that same minute.
During the halt, at 9:32:09, the $5.06 bid was pulled. The size left the book without trading there. It reopened at 9:36:50 at $5.67, 3% below where it stopped. The first print was 76,041 shares at $5.67.
The second halt
It bounced to $6.10 at 9:37, then slid again. The 9:39 minute swept down through 24 price levels (38,680 shares from $5.69 to $5.46) and closed at $5.44.
At 9:40:47 it was halted again with the last trade at $5.14. It reopened at 9:45:47 at $5.15, a penny above where it stopped. The first print was 55,040 shares at $5.15.
The stock recovered to $6.10 at 9:49 and $6.33 at 9:54. The $7.91 offer was pulled at 9:49:28. The bounce stalled at $6.33, and the stock never got back near $7.10.
The rest of the day
From there it faded. It dipped to $5.06 at 10:06, $4.64 at 10:25 and $4.20 at 10:43. A small pop at 11:01 reached $4.99 by 11:06. The low after the open was $4.09 at 12:18 p.m.
The afternoon was quiet and mostly between $4.30 and $4.60. It rose late, to $5.09 at 3:38 p.m., and closed at $4.61. After hours it traded between $4.28 and $4.98, on about 470,000 shares.
By the close, 11.5 million shares had traded in the regular session, about 28 times the float. Another 21 million traded before the open.
What to take from it
- After the top, the next push stopped lower. $7.10 at 8:35 a.m., then $6.78 right after the open.
- A halt can reopen below where it stopped, and the book can be thin right then. The 9:31 halt stopped at $5.84 and reopened at $5.67. A 5,000-share buy there paid $437 over the screen.
- Most of the move was gone by the close. It closed at $4.61, 35% below the $7.10 high.
Why it ran
News and SEC filings for IPDN published between the previous session's close and the first minute IPDN traded 20% above it, at 7:26 a.m. ET, newest first, from the same feeds the replay shows.
-
FORM 8-K
How it traded
Gap and fade. It gapped up 102.6% to 6.28 at the open and traded below the open by 4:00 p.m., at 4.61.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 7:24 a.m. | SEC filing 8-K: FORM 8-K | |
| 7:26 a.m. | First trade 20% above the previous close of 3.10 | |
| 7:28 a.m. | Volume since 4:00 a.m. passes the whole float, 413,227 shares | |
| 8:35 a.m. | Pre-market high, 7.10 | |
| 8:35 a.m. | High of the day to the close, 7.10 | |
| 9:30 a.m. | The open: 6.28, up 102.6% from the previous close | |
| 9:31 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:36 a.m. | |
| 9:40 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:45 a.m. | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 4.61, 35.1% 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
- From news to the move: the first trade 20% above the previous close came 1 minute after the latest SEC filing before it (8-K, 7:24 a.m.).
- Volume, from the one-minute bars: 20.98 million shares before the 9:30 a.m. open (64%), 4.27 million in the first 30 minutes (13%), and 7.72 million in the rest of the day to 8 p.m. (23%).
- Float rotation, the volume since 4 a.m. against the float of 413,227 shares: past it once at 7:28 a.m., twice at 7:29 a.m., three times at 7:30 a.m.
- The halt at 9:31 a.m.: down 6.3% in the 5 minutes into it, reopened at 5.67, down 2.9% from the last trade before it, then down 9.3% over the next 5 minutes.
- The halt at 9:40 a.m.: down 12.0% in the 5 minutes into it, reopened at 5.15, up 0.2% from the last trade before it, then up 15.3% over the next 5 minutes.
- Other days IPDN met the small-cap rule in our recaps: 3, the latest on September 25, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:31 a.m. | 9:36 a.m. | 5 min 0 s | LULD pause (limit up-limit down) |
| 9:40 a.m. | 9:45 a.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 IPDN on October 6, 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.