Hindsight Markets Recaps Small-cap stocks on August 18, 2026
TNON, August 18: a run to $6.08
TNON opened near its previous close, then ran to $5.99 during the session.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $6.08, on 112K shares.
The open
It opened near its previous close, at $5.09. It ran to $5.99 by 3:56 p.m.
The close
It closed at $5.42, 11% under its high.
What to take from it: The move came during the session, not at the open.
The details
How it traded, step by step
Intraday run. It opened up 3.5% at $5.09, then ran from the open to the high of $5.99 in 386 minutes.
| Time (ET) | What happened |
|---|---|
| 6:30 a.m. | First trade 20% above the previous close of $4.92 |
| 6:47 a.m. | Pre-market high, $6.08 |
| 6:47 a.m. | High of the day to the close, $6.08 |
| 9:30 a.m. | The open: $5.09, up 3.5% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $5.42, 10.9% below the high |
| 4:06 p.m. | Volume since 4:00 a.m. passes the whole float, 606,596 shares |
The shape's name comes from a fixed rule, not a judgement (how shapes are named). Halts are in the halt table below.
The day in numbers
- Previous close
- $4.92
- Open, 9:30 a.m.
- $5.09
- Gap at the open
- +3.5%
- Pre-market high
- $6.08 at 6:47 a.m.
- High, 4 a.m. to 4 p.m.
- $6.08 at 6:47 a.m.
- Low, 4 a.m. to 4 p.m.
- $4.76
- Close, 4 p.m.
- $5.42
- Change at 4 p.m.
- +10.2%
- After-hours high, 4 p.m. to 8 p.m.
- $10.11 at 4:30 p.m.
- Volume, 4 a.m. to 4 p.m.
- 151,795
- Volume after hours, 4 p.m. to 8 p.m.
- 7.08 million
- Relative volume by 8 p.m.
- 243.5×
- Float
- 606,596 shares, from filings as of August 18, 2026
- Shares outstanding
- 667,047
- Volume, from the one-minute bars: 111,521 shares before the 9:30 a.m. open (2%), 3,377 in the first 30 minutes (0%), and 7.12 million in the rest of the day to 8 p.m. (98%).
- Float rotation, the volume since 4 a.m. against the float of 606,596 shares: past it once at 4:06 p.m., twice at 4:12 p.m., three times at 4:16 p.m.
- Other days TNON met the small-cap rule in our recaps: 6, the latest on September 30, 2026.
- The next session, August 19, 2026, it was up 101.8% from its previous close at the 4:00 p.m. close.
On the day's lists: the intraday runners, after-hours movers. It is here because it met the small-cap rule on the intraday runners: price $2 to $20, up 10% or more, relative volume 5× or more, float under 20 million shares, its high reached $1 or more and it started the day at $20 or under (the rule every page uses).
Halts (none)
The exchange's halt feed shows no halts for TNON that day.
Halt bands that day: the LULD plan's Amendment 18 rules (what that means, LULD calculator).
How we read the data, name a day's shape and pick the stocks: methodology.
Analysis
Written by AI from the facts above and checked against them, number by number. A reading of the price action, not advice.
TNON gapped up 3.5% to 5.09 at the open, but the pre-market had already done the heavy lifting: it hit the day's high of 6.08 at 6:47 a.m., and no news was found ahead of the move. From there it drifted, with only 3,377 shares trading in the first 30 minutes, and the last trade before the close was 5.42, 10.9% below the high. The real action came after hours, where 98% of the day's volume printed and the stock reached 10.11 at 4:30 p.m. Volume passed the 606,596-share float at 4:06 p.m. and rotated through it twice by 4:12 p.m. The exchange's halt feed shows no halts, so every move happened without a pause.
Trade this day
Replay TNON on August 18, 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.