Hindsight Markets Recaps Small-cap stocks on September 14, 2026
RAYA, September 14: a run to $2.95
RAYA opened near its previous close, ran to $2.30, then fell 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 $2.95, on 976K shares.
The open
It opened near its previous close, at $2.01. It ran to $2.30 by 9:34 a.m.
The close
It closed at $1.90, 36% under its high.
What to take from it: The run did not hold: it finished below where it opened.
The details
How it traded, step by step
Intraday run and fade. It opened down 4.3% at $2.01, then ran from the open to the high of $2.30 in 4 minutes, and gave it all back: it traded at $1.90 at 4:00 p.m., below the open.
| Time (ET) | What happened |
|---|---|
| 8:41 a.m. | First trade 20% above the previous close of $2.10 |
| 8:42 a.m. | Pre-market high, $2.95 |
| 8:42 a.m. | High of the day to the close, $2.95 |
| 9:30 a.m. | The open: $2.01, down 4.3% from the previous close |
| 9:33 a.m. | Volume since 4:00 a.m. passes the whole float, 1.00 million shares |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.90, 35.6% 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
- $2.10
- Open, 9:30 a.m.
- $2.01
- Gap at the open
- −4.3%
- Pre-market high
- $2.95 at 8:42 a.m.
- High, 4 a.m. to 4 p.m.
- $2.95 at 8:42 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.69
- Close, 4 p.m.
- $1.90
- Change at 4 p.m.
- −9.5%
- After-hours high, 4 p.m. to 8 p.m.
- $1.95 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 1.34 million
- Volume after hours, 4 p.m. to 8 p.m.
- 24,579
- Relative volume by 8 p.m.
- n/m
- Float
- 1.00 million shares, from filings as of September 14, 2026
- Shares outstanding
- 1.01 million
- Volume, from the one-minute bars: 976,268 shares before the 9:30 a.m. open (71%), 218,668 in the first 30 minutes (16%), and 173,942 in the rest of the day to 8 p.m. (13%).
- Float rotation, the volume since 4 a.m. against the float of 1.00 million shares: past it once at 9:33 a.m.
- In our recaps, this is the only day RAYA met the small-cap rule.
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 (none)
The exchange's halt feed shows no halts for RAYA 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.
Trade this day
Replay RAYA on September 14, 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.