Hindsight Markets Recaps Small-cap stocks on September 11, 2026
FGL, September 11: a 48,978-share float, two halts, and $8.24
FGL opened down 13%, then ran to $8.24 through two halts during the session.
What happened
Draft for review. Not published.
A tiny float wakes up
There was no news, and the float was just 49K shares. FGL opened at $4.45, 13% under the $5.10 close. Then it crept up all morning on thin trading.
Stop It's 10:57. FGL is at $4.98, just under $5.00. It touched $5.09 at 10:53 and has sat at $4.98 for two minutes. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:54 a.m. and stop at 10:57 a.m. ET for your call.
That minute it jumped to $5.55 on 5,811 shares, about 12% of the float. It kept climbing, and at 11:33 it was halted at $6.99.
The reopen spike
Stop It's 11:43. FGL has been halted since 11:33, with its last trade at $6.99. The halt is about to end. Would you chase it at the reopen?
Press play: the real Level 2, tape and chart run from 11:40 a.m. and stop at 11:43 a.m. ET for your call.
It reopened at 11:43:21 at $7.48, 7% higher, and one 16K-share trade hit at once. That minute it topped out at $8.24.
Second halt, then the fade
A second halt came at 11:45. It reopened lower at $6.51 and fell to $5.64 a minute later, 32% off the top. It closed at $5.45, 34% under the high.
What to take from it: On this thin float, the price on screen at the reopen was not the price a real buy got.
Replay FGL's day
It starts at 11:00 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 11:03 a.m. and asks what you would do. Or press Play on any moment in How it traded.
The details
How it traded, step by step
Intraday run. It opened down 12.7% at $4.45, then ran from the open to the high of $8.24 in 133 minutes through a halt.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | Pre-market high, $5.01 | |
| 9:30 a.m. | The open: $4.45, down 12.7% from the previous close | |
| 10:57 a.m. | Volume since 4:00 a.m. passes the whole float, 48,978 shares | |
| 11:18 a.m. | First trade 20% above the previous close of $5.10 | |
| 11:43 a.m. | High of the day to the close, $8.24 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $5.45, 33.9% 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
- $5.10
- Open, 9:30 a.m.
- $4.45
- Gap at the open
- −12.7%
- Pre-market high
- $5.01 at 4:00 a.m.
- High, 4 a.m. to 4 p.m.
- $8.24 at 11:43 a.m.
- Low, 4 a.m. to 4 p.m.
- $4.15
- Close, 4 p.m.
- $5.45
- Change at 4 p.m.
- +6.9%
- After-hours high, 4 p.m. to 8 p.m.
- $6.79 at 4:31 p.m.
- Volume, 4 a.m. to 4 p.m.
- 755,524
- Volume after hours, 4 p.m. to 8 p.m.
- 422,358
- Relative volume by 8 p.m.
- 5.7×
- Float
- 48,978 shares, from filings as of September 11, 2026
- Shares outstanding
- 75,555
- Volume, from the one-minute bars: 21,547 shares before the 9:30 a.m. open (2%), 13,263 in the first 30 minutes (1%), and 1.14 million in the rest of the day to 8 p.m. (97%).
- Float rotation, the volume since 4 a.m. against the float of 48,978 shares: past it once at 10:57 a.m., twice at 11:22 a.m., three times at 11:31 a.m.
- Other days FGL met the small-cap rule in our recaps: 6, the latest on October 26, 2026.
On the day's lists: the intraday runners. 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 (2)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 11:33 a.m. | 11:43 a.m. | 10 min 0 s | up 15.7% | $7.48, up 7.0% | down 10.2% | LULD pause (limit up-limit down) | |
| 11:45 a.m. | 11:50 a.m. | 5 min 0 s | down 3.9% | $6.51, down 3.1% | down 8.1% | 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 FGL on September 11, 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.