Hindsight Markets Recaps Small-cap stocks on September 23, 2026
VSA, September 23: three halts and $7.12
VSA opened near its previous close, then ran to $7.12 through three halts during the session.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $2.04, on 3K shares.
The open
It opened near its previous close, at $2.01. It ran to $7.12 by 2:41 p.m.
The halts
Each halt froze the price and reopened it somewhere new. The exchange halted it three times, from 1:48 p.m. to 2:47 p.m. The biggest jump was the reopen after 1:48 p.m.: 51% above the last trade before it.
The close
It closed at $3.67, 49% under its high.
What to take from it: The move came during the session, not at the open.
The details
How it traded, step by step
Intraday run. It opened up 1.5% at $2.01, then ran from the open to the high of $7.12 in 311 minutes through two halts.
| Time (ET) | What happened |
|---|---|
| 4:58 a.m. | Pre-market high, $2.04 |
| 9:30 a.m. | The open: $2.01, up 1.5% from the previous close |
| 1:34 p.m. | First trade 20% above the previous close of $1.98 |
| 2:41 p.m. | High of the day to the close, $7.12 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.67, 48.5% 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
- $1.98
- Open, 9:30 a.m.
- $2.01
- Gap at the open
- +1.5%
- Pre-market high
- $2.04 at 4:58 a.m.
- High, 4 a.m. to 4 p.m.
- $7.12 at 2:41 p.m.
- Low, 4 a.m. to 4 p.m.
- $1.97
- Close, 4 p.m.
- $3.67
- Change at 4 p.m.
- +85.1%
- After-hours high, 4 p.m. to 8 p.m.
- $3.93 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 5.96 million
- Volume after hours, 4 p.m. to 8 p.m.
- 512,849
- Relative volume by 8 p.m.
- 197.9×
- Float
- 27.90 million shares, from filings as of September 23, 2026
- Shares outstanding
- 27.93 million
- Volume, from the one-minute bars: 2,805 shares before the 9:30 a.m. open (0%), 1,380 in the first 30 minutes (0%), and 6.47 million in the rest of the day to 8 p.m. (100%).
- Other days VSA met the small-cap rule in our recaps: 1, the latest on August 7, 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 (3)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 1:48 p.m. | 2:33 p.m. | 45 min 1 s | up 26.1% | $5.61, up 50.8% | up 20.0% | LULD pause (limit up-limit down) |
| 2:34 p.m. | 2:39 p.m. | 5 min 0 s | up 80.9% | $6.00, down 10.8% | up 5.2% | LULD pause (limit up-limit down) |
| 2:47 p.m. | 2:57 p.m. | 10 min 0 s | down 26.2% | $4.80, down 3.0% | down 10.6% | 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 VSA on September 23, 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.