Hindsight Markets Recaps Small-cap stocks on September 21, 2026
CISS, September 21: a gap that faded
CISS opened up 21%, 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 $1.80, on 4.3M shares.
The open
It opened up 21%, at $1.56.
The close
It closed at $1.22, 32% 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 20.9% to $1.56 at the open and traded below the open by 4:00 p.m., at $1.22.
| Time (ET) | What happened |
|---|---|
| 7:29 a.m. | First trade 20% above the previous close of $1.29 |
| 7:31 a.m. | Pre-market high, $1.80 |
| 7:31 a.m. | High of the day to the close, $1.80 |
| 7:38 a.m. | Volume since 4:00 a.m. passes the whole float, 1.49 million shares |
| 9:30 a.m. | The open: $1.56, up 20.9% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.22, 32.2% 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
- $1.29
- Open, 9:30 a.m.
- $1.56
- Gap at the open
- +20.9%
- Pre-market high
- $1.80 at 7:31 a.m.
- High, 4 a.m. to 4 p.m.
- $1.80 at 7:31 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.22
- Close, 4 p.m.
- $1.22
- Change at 4 p.m.
- −5.4%
- After-hours high, 4 p.m. to 8 p.m.
- $1.42 at 4:33 p.m.
- Volume, 4 a.m. to 4 p.m.
- 6.03 million
- Volume after hours, 4 p.m. to 8 p.m.
- 315,190
- Relative volume by 8 p.m.
- 13.1×
- Float
- 1.49 million shares, from filings as of September 21, 2026
- Shares outstanding
- 1.49 million
- Volume, from the one-minute bars: 4.28 million shares before the 9:30 a.m. open (67%), 588,092 in the first 30 minutes (9%), and 1.47 million in the rest of the day to 8 p.m. (23%).
- Float rotation, the volume since 4 a.m. against the float of 1.49 million shares: past it once at 7:38 a.m., twice at 7:50 a.m., three times at 9:34 a.m.
- Other days CISS met the small-cap rule in our recaps: 2, the latest on August 27, 2026.
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 CISS 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 CISS on September 21, 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.