Hindsight Markets Recaps Small-cap stocks on August 21, 2026
RFAI, August 21: seven halts and $114.85
RFAI more than tripled at the open, ran to $72.98 through seven halts, then gave back some of the run by the close.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $114.85, on 824K shares.
The open
It more than tripled at the open, at $40.00. It ran to $72.98 by 3:44 p.m.
The halts
Each halt froze the price and reopened it somewhere new. The exchange halted it seven times, from 9:30 a.m. to 3:45 p.m. The biggest jump was the reopen after 3:45 p.m.: 7% below the last trade before it.
The close
It closed at $62.70, 45% under its high.
What to take from it: The high came early. Most of the run was gone by the close, so the move was in the morning, not the hold.
The details
How it traded, step by step
Gap, run, gave some back. It gapped up 204.2% to $40.00 at the open, ran from the open to the high of $72.98 in 374 minutes through 6 halts, then gave back 31% of that move by 4:00 p.m., trading at $62.70, still above the open.
| Time (ET) | What happened |
|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $13.15 |
| 4:01 a.m. | Pre-market high, $114.85 |
| 4:01 a.m. | High of the day to the close, $114.85 |
| 9:09 a.m. | Volume since 4:00 a.m. passes the whole float, 734,827 shares |
| 9:30 a.m. | The open: $40.00, up 204.2% from the previous close |
| 3:45 p.m. | Last trade before the 4:00 p.m. close, $62.70, 45.4% below the high |
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
- $13.15
- Open, 9:30 a.m.
- $40.00
- Gap at the open
- +204.2%
- Pre-market high
- $114.85 at 4:01 a.m.
- High, 4 a.m. to 4 p.m.
- $114.85 at 4:01 a.m.
- Low, 4 a.m. to 4 p.m.
- $22.85
- Close, 4 p.m.
- $62.70
- Change at 4 p.m.
- +376.8%
- After-hours high, 4 p.m. to 8 p.m.
- $64.33 at 4:05 p.m.
- Volume, 4 a.m. to 4 p.m.
- 1.89 million
- Volume after hours, 4 p.m. to 8 p.m.
- 259,895
- Relative volume by 8 p.m.
- 139.9×
- Float
- 734,827 shares, from filings as of August 21, 2026
- Shares outstanding
- 4.00 million
- Volume, from the one-minute bars: 823,788 shares before the 9:30 a.m. open (38%), 237,185 in the first 30 minutes (11%), and 1.09 million in the rest of the day to 8 p.m. (51%).
- Float rotation, the volume since 4 a.m. against the float of 734,827 shares: past it once at 9:09 a.m., twice at 12:00 p.m.
- Other days RFAI met the small-cap rule in our recaps: 2, the latest on October 26, 2026.
On the day's lists: the intraday runners. It is here because it was in play on the intraday runners: up 30% or more on $3 million or more really traded, outside the small-cap rule's price, relative volume or float, its high reached $1 or more and it started the day at $20 or under (the rule every page uses).
Halts (7)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 9:30 a.m. | 9:40 a.m. | 10 min 0 s | up 8.6% | $48.10, up 4.9% | up 10.0% | LULD pause (limit up-limit down) |
| 9:41 a.m. | 9:46 a.m. | 5 min 0 s | up 15.4% | $52.91, unchanged | down 2.4% | LULD pause (limit up-limit down) |
| 10:19 a.m. | 10:24 a.m. | 5 min 0 s | down 13.2% | $45.32, unchanged | up 9.0% | LULD pause (limit up-limit down) |
| 12:13 p.m. | 12:18 p.m. | 5 min 0 s | down 12.6% | $35.41, up 0.5% | up 7.7% | LULD pause (limit up-limit down) |
| 3:26 p.m. | 3:31 p.m. | 5 min 0 s | up 9.6% | $57.50, up 3.9% | up 20.0% | LULD pause (limit up-limit down) |
| 3:34 p.m. | 3:44 p.m. | 10 min 0 s | up 24.6% | $71.76, up 4.0% | down 12.6% | LULD pause (limit up-limit down) |
| 3:45 p.m. | 4:00 p.m. | 14 min 22 s | down 9.1% | $58.00, down 7.5% | up 5.9% | LULD pause (limit up-limit down) |
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.
Trade this day
Replay RFAI on August 21, 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.