Hindsight Markets Recaps Small-cap stocks on September 2, 2026
UPC, September 2: one halt and a gap that faded
UPC opened up 19%, then faded below its open by the close.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $5.96, on 1.6M shares.
The open
It opened up 19%, at $5.10.
The halts
Trading stopped once, at 9:34 a.m.
The close
It closed at $4.69, 21% under its high.
What to take from it: A big gap is not a trend. This one traded below its open by the close.
The details
How it traded, step by step
Gap and fade. It gapped up 19.4% to $5.10 at the open and traded below the open by 4:00 p.m., at $4.69.
| Time (ET) | What happened |
|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $4.27 |
| 6:46 a.m. | Pre-market high, $5.96 |
| 6:46 a.m. | High of the day to the close, $5.96 |
| 9:30 a.m. | The open: $5.10, up 19.4% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.69, 21.3% 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
- $4.27
- Open, 9:30 a.m.
- $5.10
- Gap at the open
- +19.4%
- Pre-market high
- $5.96 at 6:46 a.m.
- High, 4 a.m. to 4 p.m.
- $5.96 at 6:46 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.98
- Close, 4 p.m.
- $4.69
- Change at 4 p.m.
- +9.8%
- After-hours high, 4 p.m. to 8 p.m.
- $4.85 at 6:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 2.19 million
- Volume after hours, 4 p.m. to 8 p.m.
- 49,633
- Relative volume by 8 p.m.
- 32.9×
- Float
- 4.95 million shares, from filings as of September 2, 2026
- Shares outstanding
- 5.02 million
- Volume, from the one-minute bars: 1.57 million shares before the 9:30 a.m. open (70%), 280,617 in the first 30 minutes (13%), and 386,215 in the rest of the day to 8 p.m. (17%).
- Other days UPC met the small-cap rule in our recaps: 3, the latest on October 22, 2026.
On the day's lists: the pre-market gappers, intraday runners. It is here because it met the small-cap rule on the pre-market gappers: 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 (1)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 9:34 a.m. | 9:39 a.m. | 5 min 0 s | down 8.3% | $4.62, up 0.2% | down 4.8% | 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 UPC on September 2, 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.