SCNI on October 13, 2026: why it ran

The day, step by step

• Small cap
• Momentum
• Main move: pre-market
• Catalyst: news at 7:00
• Float traded 22x
• Lower high
• Ask wall at $1.50
• Gap, run and fade

Before 7:00: almost nothing

The previous close was $1.16. Trading from 4:02 a.m. on was thin. The bars show a trade here and there, a few hundred shares in total before 7:00, between $1.04 and $1.19.

At 7:00 a.m. PRNewsWire ran: “Scinai Expands CDMO Business with $5.1 Million Development and Clinical Manufacturing Agreement”. The 7:00 minute ran from $1.16 to a high of $1.33. The 7:01 minute reached $1.70.

7:02 to 7:03: the float, then $3.34

The 7:02 minute hit $2.17. By the end of the 7:02 minute, more shares had traded than exist in the whole float (1.35 million).

The next minute was the biggest of the day: 1.55 million shares. It went from $2.10 to $3.34, the high so far, at 7:03 a.m. At 7:03:18 a sell order for 39,558 shares swept from $2.60 to $2.55 across six levels. At 7:03:26 another sold 30,034 shares from $2.74 to $2.56 across 19 levels.

By 7:07 it had traded as low as $2.28. 23.32 million shares traded before the bell.

The wall at $3.00

From 7:04 a.m. on, someone was offering stock at exactly $3.00. From 7:05 to 7:14 the stock chopped between $2.28 and $2.93.

It pushed up. At 7:16 a.m. it reached $2.98, a lower high under the $3.34 top and just under the wall. Two minutes later it was falling. At 7:19 a 44,359-share sell order swept from $2.11 to $2.00 across 12 levels, and the minute low was $1.94. The $3.00 ask wall peaked at 88,317 shares at 7:29 a.m., about 6.5% of the float. After 7:04 the stock did not trade above $2.98.

By the end of the 7:31 minute the volume was ten times the float. At 7:50 a.m. the company filed a 6-K (a foreign company's current report). From 7:50 a.m. to the bell the stock traded between $1.38 and $2.08.

The open and the morning

It opened at $1.56, up 34% from the previous close. A 23,892-share print went through at $1.57 at 9:30:00. The 9:31 minute dropped to $1.43.

Then it drifted down. It was $1.31 by 10:18 and $1.14 at 11:13, the low since the open. At 11:03 a 34,805-share sell order swept from $1.27 to $1.23. The low so far was $1.04, at 4:45 a.m., on a handful of shares.

The wall at $1.50

From 10:10 a.m. on, someone was offering a lot of stock at exactly $1.50. It peaked at 79,086 shares at 11:22 a.m., about 6% of the float. The stock was trading around $1.21 then. It stayed under $1.50 for almost three hours, until 1:04 p.m.

From 1:09:55 to 1:10:22 p.m., 34,882 shares traded at exactly $1.50, and at 1:10:23 the wall was gone.

The 1:11 minute reached $1.63 and the 1:12 minute $1.64. Then at 1:13 it fell to $1.37. At 1:14 a new ask wall showed up at $1.70, and it reached 42,749 shares at 1:17. At 1:26 a bid wall appeared at $1.30. It reached 59,089 shares at 1:30:29 and was pulled at 1:30:59.

The close and after hours

It closed at $1.24, 63% under the $3.34 high of the day. That high came before the bell, at 7:03 a.m., 114% above where it opened.

After hours it opened at $1.21 at 4:01 p.m., reached $1.34 at 6:00 p.m. and was at $1.07 by 7:59 p.m. 524,876 shares traded after the close.

Through the close, 29.97 million shares traded: the float changed hands about 22 times, at 55 times its normal volume. Of those, 6.65 million came in the regular session.

What to take from it

• After the top, the next push stopped lower. $3.34 at 7:03 a.m., then $2.98 at 7:16 a.m., just under an ask wall at $3.00. Three minutes later it was at $1.94.
• Most of the volume came before the bell. By the end of the 7:02 minute more shares had traded than the float holds. Of the 29.97 million shares traded, 6.65 million came in the regular session.
• Market buys can cost more than the screen says. At 7:03:44 a 5,000-share buy ran $452 over the screen, and at 1:10:24 it ran $79 over.

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