Hindsight Markets Recaps Small-cap stocks on September 17, 2026
MKDW, September 17: a gap that faded
MKDW 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 $12.42, on 437K shares.
The open
It opened up 19%, at $9.30.
The close
It closed at $7.32, 41% 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 $9.30 at the open and traded below the open by 4:00 p.m., at $7.32.
| Time (ET) | What happened |
|---|---|
| 7:31 a.m. | First trade 20% above the previous close of $7.79 |
| 7:31 a.m. | Pre-market high, $12.42 |
| 7:31 a.m. | High of the day to the close, $12.42 |
| 9:30 a.m. | The open: $9.30, up 19.4% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $7.32, 41.1% 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
- $7.79
- Open, 9:30 a.m.
- $9.30
- Gap at the open
- +19.4%
- Pre-market high
- $12.42 at 7:31 a.m.
- High, 4 a.m. to 4 p.m.
- $12.42 at 7:31 a.m.
- Low, 4 a.m. to 4 p.m.
- $6.43
- Close, 4 p.m.
- $7.32
- Change at 4 p.m.
- −6.0%
- After-hours high, 4 p.m. to 8 p.m.
- $8.13 at 4:46 p.m.
- Volume, 4 a.m. to 4 p.m.
- 866,269
- Volume after hours, 4 p.m. to 8 p.m.
- 9,518
- Relative volume by 8 p.m.
- 13.0×
- Float
- 7.64 million shares, from filings as of September 17, 2026
- Shares outstanding
- 34.20 million
- Volume, from the one-minute bars: 437,111 shares before the 9:30 a.m. open (50%), 25,977 in the first 30 minutes (3%), and 412,699 in the rest of the day to 8 p.m. (47%).
- Other days MKDW met the small-cap rule in our recaps: 2, the latest on September 16, 2026.
- The next session, September 18, 2026, it was down 64.0% from its previous close at the 4:00 p.m. close.
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 (none)
The exchange's halt feed shows no halts for MKDW 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 MKDW on September 17, 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.