Hindsight Markets Small-cap stocks on October 8, 2026
SBFM on October 8, 2026: why it ran
On October 8, 2026, SBFM opened down 32.9% from the previous close of 0.7000 and reached 1.32 at 5:21 a.m. ET. The exchange did not halt it.
- Previous close
- 0.7000
- Open, 9:30 a.m.
- 0.4700
- Gap at the open
- down 32.9%
- Pre-market high
- 1.32 at 5:21 a.m.
- High, 4 a.m. to 4 p.m.
- 1.32 at 5:21 a.m.
- Low, 4 a.m. to 4 p.m.
- 0.3761
- After-hours high, 4 p.m. to 8 p.m.
- 0.4500 at 5:01 p.m.
- Last trade before 4:00 p.m.
- 0.4297
- Volume
- 51.57 million
- Relative volume
- 20.2x
- Float
- 4.24 million shares, from filings as of October 8, 2026
- Shares outstanding
- 4.31 million
- Halts
- none in the halt feed
Replay SBFM's day
It starts at 6:56 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 6:59 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: offering
- Float traded 12x
- Ask wall
- Faded to the close
The day before
On October 7, SBFM ran from $0.39 to $1.56. It gave most of it back and closed at $0.70, on 47 million shares.
At 12:15 a.m. on the 8th, the company filed an EFFECT notice (a registration went effective). That is the only filing on the day's list.
Pre-market: the float traded by 4:47 a.m.
The first trades on the 8th were around $0.74, already above the $0.70 close. It dipped to $0.67 at 4:04 a.m. and then sat near $0.70 for about 20 minutes.
The run started at 4:22 a.m. In four minutes it went from $0.72 to $1.14 at 4:26 a.m. The 4:25 and 4:26 minutes each traded more than 340,000 shares. It touched $1.19 at 4:28, then fell to $0.88 at 4:31 a.m.
It bounced again, to $1.06 at 4:34 a.m. By 4:47 a.m., more shares had traded than exist in the whole float (4.24 million). By 4:49 a.m. it was at $1.15.
Then it spent half an hour between about $0.97 and $1.10. At 5:20 a.m. it started to break out.
Within 10 minutes of the high it was back at $1.13. It tried again and at 5:39 a.m. pushed to $1.25, a lower high under the $1.32 top. By 6:12 a.m. it was down at $0.85.
It chopped between about $0.86 and $1.04 for the next 45 minutes. At 7:00 a.m. it pushed again and made $1.21 at 7:07 a.m., still under $1.32. 45.77 million shares traded before the bell.
8:00 a.m.: the offering
At 7:59 a.m. the stock was at $0.98. At 8:00 a.m. Accesswire ran: “Sunshine Biopharma Inc. Announces Pricing of $6.0 Million Public Offering”.
The 8:00 minute opened at $0.98 and hit $0.51, on 1.5 million shares. In the first seconds, one sell order of 258,058 shares went through 150 price levels, from $0.98 to $0.90. Then two more sweeps followed, down to $0.65.
It kept falling. By 8:10 a.m. it was at $0.43 on 839,441 shares in that minute. A single print of 264,756 shares went through at $0.4529 at 8:10:31. By 8:46 a.m., the float had traded ten times.
The open and the wall at $0.47
Between 8:15 and 9:15 a.m. it held mostly in a $0.44 to $0.50 band. A 124,053-share print went through at $0.47 at 9:30:01, and the stock opened at $0.47, down 33% from the $0.70 close. It slid to $0.44 by 9:34.
From 11:52 a.m., someone was offering stock at exactly $0.47, above the market. It grew to a peak of 707,322 shares at 1:13 p.m., about 17% of the float. The stock was trading near $0.39 then.
Stop It's 2:15. SBFM is at $0.40. An ask wall at $0.47 has been up since 11:52 a.m. and peaked near 707,000 shares at 1:13 p.m., well above the price. Would you buy here?
Press play: the real Level 2, time and sales and chart stop at 2:15 p.m. ET for your call, then show what happened. The clip starts at 2:12 p.m. ET.
Right after the stop, at 2:16, it pushed to $0.42. At 2:30:04 p.m. the wall was pulled, and the stock never reached $0.47 while it was up.
Other walls came and went. A smaller one at $0.48 (about 211,000 shares, 5% of the float) appeared at 2:41 and was pulled at 2:49 p.m.
The rest of the day
The afternoon low after the open was $0.38 at 1:31 p.m. From there it drifted up and was between $0.41 and $0.44 for most of the last hour. It closed at $0.43, 67% under the $1.32 high. That high came before the bell, 181% above the open.
The regular session traded 4.97 million shares. Pre-market was 45.77 million, nine times that. For the whole day, 51.57 million shares traded: the float changed hands about 12 times, at 20 times its normal volume.
What to take from it
- A move that is all pre-market can be gone by the open. The $1.32 high came at 5:21 a.m., and the stock opened at $0.47.
- After the top, the next push stopped lower. $1.32 at 5:21 a.m., then $1.25 at 5:39 a.m. and $1.21 at 7:07 a.m.
- A big wall above the price is not a target. Up to about 707,000 shares sat at $0.47, and then they were pulled without the stock ever reaching them.
Why it ran
News and SEC filings for SBFM published between the previous session's close and the first minute SBFM traded 20% above it, at 4:00 a.m. ET, newest first, from the same feeds the replay shows.
How it traded
| Time (ET) | What happened | Watch it |
|---|---|---|
| 12:15 a.m. | SEC filing EFFECT: | |
| 4:00 a.m. | First trade 20% above the previous close of 0.7000 | |
| 4:47 a.m. | Volume since 4:00 a.m. passes the whole float, 4.24 million shares | |
| 5:21 a.m. | Pre-market high, 1.32 | |
| 5:21 a.m. | High of the day to the close, 1.32 | |
| 9:30 a.m. | The open: 0.4700, down 32.9% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, 0.4297, 67.4% 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
- From news to the move: the first trade 20% above the previous close came 3 hours 44 minutes after the latest SEC filing before it (EFFECT, 12:15 a.m.).
- Volume, from the one-minute bars: 45.77 million shares before the 9:30 a.m. open (89%), 1.40 million in the first 30 minutes (3%), and 4.41 million in the rest of the day to 8 p.m. (9%).
- Float rotation, the volume since 4 a.m. against the float of 4.24 million shares: past it once at 4:47 a.m., twice at 5:21 a.m., three times at 5:43 a.m.
- Other days SBFM met the small-cap rule in our recaps: 3, the latest on October 7, 2026.
Halts
The exchange's halt feed shows no halts for SBFM that day.
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 SBFM 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.