Hindsight Markets Small-cap stocks on October 8, 2026
JZ on October 8, 2026: why it ran
On October 8, 2026, JZ opened up 23.7% from the previous close of 0.4698 and reached 1.17 at 12:14 p.m. ET. The exchange halted it once.
- Previous close
- 0.4698
- Open, 9:30 a.m.
- 0.5812
- Gap at the open
- up 23.7%
- Pre-market high
- 0.6447 at 9:13 a.m.
- High, 4 a.m. to 4 p.m.
- 1.17 at 12:14 p.m.
- Low, 4 a.m. to 4 p.m.
- 0.4510
- After-hours high, 4 p.m. to 8 p.m.
- 0.9400 at 4:17 p.m.
- Last trade before 4:00 p.m.
- 0.8408
- Volume
- 79.35 million
- Relative volume
- 75.8x
- Float
- 14.38 million shares, from filings as of October 8, 2026
- Shares outstanding
- 14.41 million
Replay JZ's day
It starts at 9:18 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:21 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: midday
- News: 10:37 a.m.
- Halted once
- Bid wall broke
- Ask wall at $1.00
- Float traded 5x
Pre-market: quiet, then $0.64
The official previous close was $0.47. Before 9 a.m. JZ barely traded. No minute had more than 203 shares.
That changed at 9:02 a.m. At 9:05 it traded through $0.50 for the first time. At 9:13 it reached the pre-market high, $0.64, on 259,068 shares in that one minute. 2.66 million shares traded before the bell.
The open and the halt
It opened at $0.58, up 24% from the previous close. The first minute cleared the pre-market high. The next minute reached $0.80, and 1.05 million shares traded in that minute.
It dipped to $0.66 at 9:32. It then ran from $0.63 at 9:33 to $0.88 at 9:36, and fell to $0.68 at 9:38. By 9:47 more shares had traded than exist in the whole float (14.38 million).
At 9:49 it reached $0.91 on 1.5 million shares. Then it dropped. At 9:50:59 it was halted (a volatility pause), after the 9:50 candle had fallen to $0.66. It reopened at 9:55:59 at $0.69. That was 4% above the last print before the halt.
The bid at $0.68
The order book during the halt showed something the candles don't.
Orders went onto the book during the halt. From 9:51:42, there was a bid at exactly $0.68. The bid grew to a peak of 110,951 shares at 9:56:05, across all exchanges. That is 0.8% of the float.
The reopen came at 9:55:59 with a single print of 175,439 shares at about $0.69. In the next 7.1 seconds, 96,511 shares traded at exactly $0.68 and the bid was gone by 9:56:07. It wasn't pulled. Sellers hit it. One sell order went through 89 price levels, from $0.68 down to $0.63.
The 9:56 candle low was $0.63. The following minutes were choppy. It drifted from $0.73 at 10:04 down to $0.58 at 10:34.
The headline and the wall at $1.00
At 10:37 PRNewsWire ran: “Jianzhi Education Announces Share Repurchase Program”. The 10:37 candle went from $0.61 to a high of $0.74 on 825,712 shares. From $0.59 at 10:36 it ran to $0.85 at 10:39, up 44%.
It traded between $0.66 and $0.85 over the next 20 minutes, and was back at $0.66 by 11:12. At 10:43 an ask wall appeared at exactly $1.00. From $0.69 at 11:17 the stock climbed to $0.98 at 11:29, up 42%, on 1.2 million shares in that minute.
Stop It's 11:39. JZ is at $0.98. A wall of offers has been sitting at exactly $1.00 since 10:43. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 11:39 a.m. ET for your call, then show what happened. The clip starts at 11:36 a.m. ET.
Here's what happened. At 11:39:11 a buy order swept 118,637 shares from $0.99 up to $1.00, and 91,908 shares traded at exactly $1.00. The wall had peaked at 114,134 shares (0.8% of the float) a few seconds earlier. By 11:39:12 it was eaten. It wasn't pulled. Buyers took it. The minute's high was $1.05.
At 11:39:45 a sell order of 135,446 shares hit $1.02 down to $1.00. The stock was at $0.98 at the end of the 11:40 minute.
After the $1.00 wall
It spent the next 20 minutes between $0.85 and $1.01. At 12:00 it ran again, to $1.00 at 12:00 and $1.05 at 12:01. At 12:05 it reached $1.10, then pulled back to $0.94 by 12:09.
Stop It's 12:12. JZ is at $1.03, after a $1.10 high at 12:05 and a pullback to $0.94 at 12:09. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 12:12 p.m. ET for your call, then show what happened. The clip starts at 12:09 p.m. ET.
Here's what happened. At 12:12:05 a single buy order took 207,129 shares from $1.05 to $1.10 through six price levels. A minute later another bought 106,928 shares from $1.10 to $1.13. From $0.95 at 12:10 it ran to $1.17, the high of the day, in the 12:14 minute.
The reversal was quick. Within three minutes, by 12:17, it was back at $1.04.
The rest of the day
At 12:27 an ask wall of 148,506 shares showed up at $1.03. It was pulled at 12:34:14, and the 12:33 candle had already fallen to $0.88. Another ask wall formed at $1.15 at 12:40, and it peaked at 114,366 shares at 12:48.
From 12:28 to the close it stayed under $1.00. At 2:09 p.m. it pushed to $0.999, a lower high under the $1.17 top. A 143,407-share ask wall at $1.00 had started building at 1:50 p.m. and peaked at 2:11.
At 3:44 p.m. it dropped to $0.79. Within three minutes it was back at $0.99. It closed the regular session at $0.84.
By the close, 73.73 million shares had traded in the regular session: the float changed hands about 5 times. Counting pre-market and after hours, 79.35 million shares traded, at about 76 times its normal volume.
After hours it traded between $0.71 and $0.94, with the high at 4:17 p.m. 2.96 million shares traded in that session.
What to take from it
- After the top, the next push stopped lower. $1.17 at 12:14 p.m., then $0.999 at 2:09 p.m., just under a big ask wall sitting at $1.00.
- A halt can reopen higher than it stopped. The 9:50 halt stopped near $0.66 and reopened at $0.69. The bid wall that formed during the halt then broke within seconds of the reopen.
- A wall breaking doesn't mean the book above is thin. After the $1.00 wall broke and at the $1.17 top, 5,000-share market buys filled at the screen price.
Why it ran
News and SEC filings for JZ published between the previous session's close and the first minute JZ traded 20% above it, at 9:10 a.m. ET, newest first, from the same feeds the replay shows.
No news found before the move.
How it traded
Gap, run and fade. It gapped up 23.7% to 0.5812 at the open, ran from the open to the high of 1.17 in 164 minutes through a halt, then gave back 56% of that move by 4:00 p.m., trading at 0.8408.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 9:10 a.m. | First trade 20% above the previous close of 0.4698 | |
| 9:13 a.m. | Pre-market high, 0.6447 | |
| 9:30 a.m. | The open: 0.5812, up 23.7% from the previous close | |
| 9:47 a.m. | Volume since 4:00 a.m. passes the whole float, 14.38 million shares | |
| 9:50 a.m. | Halted: LULD pause (limit up-limit down). Trading resumes at 9:55 a.m. | |
| 12:14 p.m. | High of the day to the close, 1.17 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 0.8408, 28.1% 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
- Volume, from the one-minute bars: 2.66 million shares before the 9:30 a.m. open (3%), 17.07 million in the first 30 minutes (22%), and 59.62 million in the rest of the day to 8 p.m. (75%).
- Float rotation, the volume since 4 a.m. against the float of 14.38 million shares: past it once at 9:47 a.m., twice at 10:45 a.m., three times at 11:39 a.m.
- The halt at 9:50 a.m.: down 14.8% in the 5 minutes into it, reopened at 0.6859, up 3.9% from the last trade before it, then down 0.5% over the next 5 minutes.
- Other days JZ met the small-cap rule in our recaps: 4, the latest on October 9, 2026.
Halts
| Halted | Resumed | Length | Reason in the feed |
|---|---|---|---|
| 9:50 a.m. | 9:55 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 JZ on October 8, 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.