Hindsight Markets Recaps Small-cap stocks on September 17, 2026
PAAI, September 17: a dead morning, three halts, and $3.47
PAAI opened near its previous close, then ran to $3.47 through three halts during the session.
What happened
Draft for review. Not published.
A dead morning
For hours, PAAI barely traded. It opened at $0.95 and stayed near there until 11:04. Then it ran, and by 11:25 it was at $1.81.
The 11:25 halt
The run froze at 11:25:59, when a volatility pause stopped it at $1.81. A 102K-share bid sat at that price.
Stop It's 11:35. PAAI has been halted since 11:25 with the last trade at $1.81. It is about to reopen. It was at $0.99 at 11:04, thirty-one minutes ago. Would you buy the reopen?
Press play: the real Level 2, tape and chart run from 11:32 a.m. and stop at 11:35 a.m. ET for your call.
It reopened 13% higher, at $2.05. At 11:36:22 it was halted again at $2.46.
Stop It's 11:41. PAAI is about to reopen from its second halt. The last trade before the halt was $2.46, and it is up from $0.99 thirty-seven minutes ago. Would you buy as soon as it reopens?
Press play: the real Level 2, tape and chart run from 11:38 a.m. and stop at 11:41 a.m. ET for your call.
This reopen was thin. Only 952 shares were offered at the screen price. The $1.81 bid had already been pulled during the halt.
The top, then news
The run peaked within minutes. It hit $3.47 in the 11:47 minute. At 11:50:06 it was halted for pending news. It never traded again, and the last bar closed at $3.33. The news came at 5:45 p.m.: a 10-year platform deal with Roundtable.
What to take from it: A halt can reopen far from where it stopped, and the book right after can be thin.
Replay PAAI's day
It starts at 11:18 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 11:21 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 up 5.2% at $0.9463, then ran from the open to the high of $3.47 in 137 minutes through two halts.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 8:05 a.m. | Pre-market high, $0.979 | |
| 9:30 a.m. | The open: $0.9463, up 5.2% from the previous close | |
| 11:04 a.m. | First trade 20% above the previous close of $0.8999 | |
| 11:47 a.m. | High of the day to the close, $3.47 | |
| 11:50 a.m. | Last trade before the 4:00 p.m. close, $3.33, 4.0% 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
- $0.8999
- Open, 9:30 a.m.
- $0.9463
- Gap at the open
- +5.2%
- Pre-market high
- $0.979 at 8:05 a.m.
- High, 4 a.m. to 4 p.m.
- $3.47 at 11:47 a.m.
- Low, 4 a.m. to 4 p.m.
- $0.915
- Close, 4 p.m.
- $3.33
- Change at 4 p.m.
- +270.0%
- After-hours high, 4 p.m. to 8 p.m.
- not available
- Volume, 4 a.m. to 4 p.m.
- 12.82 million
- Volume after hours, 4 p.m. to 8 p.m.
- 0
- Relative volume by 8 p.m.
- 384.5×
- Float
- 12.83 million shares, from filings as of September 17, 2026
- Shares outstanding
- 47.61 million
- Volume, from the one-minute bars: 862 shares before the 9:30 a.m. open (0%), 101 in the first 30 minutes (0%), and 12.82 million in the rest of the day to 8 p.m. (100%).
- Other days PAAI met the small-cap rule in our recaps: 2, the latest on September 22, 2026.
On the day's lists: the gainers, intraday runners. It is here because it met the small-cap rule on the gainers: 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 (3)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 11:25 a.m. | 11:35 a.m. | 10 min 0 s | up 49.6% | $2.05, up 13.3% | up 20.0% | LULD pause (limit up-limit down) | |
| 11:36 a.m. | 11:41 a.m. | 5 min 0 s | up 35.9% | $2.47, up 0.4% | up 3.6% | LULD pause (limit up-limit down) | |
| 11:50 a.m. | did not resume that day | up 30.1% | News pending |
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 PAAI 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.