Hindsight Markets Recaps Small-cap stocks on September 24, 2026
HCWB, September 24: an 8:25 a.m. headline and two halts
HCWB opened near its previous close after an 8-K, then ran to $3.12 through two halts during the session.
News via Stock News API
What happened
Draft for review. Not published.
Headline, then a run
The day's news hit before the bell. An 8:25 a.m. headline on a $1.5 million private placement knocked it to $1.40. It opened at $1.69 and climbed.
Stop It's 10:03. HCWB is at $1.97, above its $1.79 pre-market high and just under $2.00. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:00 a.m. and stop at 10:03 a.m. ET for your call.
It ran to $2.38 that minute. At 10:04:05 it was halted.
Stop It's 10:29. HCWB has been halted since 10:04, with its last trade at $2.38. The previous close was $1.66. Would you buy when it reopens?
Press play: the real Level 2, tape and chart run from 10:26 a.m. and stop at 10:29 a.m. ET for your call.
The 10:29 reopen
At 10:29:01 it reopened at $3.12, 31% above the halt price. Two seconds later a large sell order swept it lower. A second halt came at 10:29:38.
Stop It's 11:11. HCWB is at $2.12. A wall of sellers has sat at $2.25, with up to about 34,000 shares, since 10:39. Would you buy here?
Press play: the real Level 2, tape and chart run from 11:08 a.m. and stop at 11:11 a.m. ET for your call.
Wall pulled, lower high
The sellers left. At 11:11:37 the $2.25 wall was pulled, and it reached $2.69 a minute later. The next push stopped at $2.84, under the top. It was $1.98 in the last regular minute.
What to take from it: On this day the halt reopen was the top, and each push after it stopped lower.
Replay HCWB's day
It starts at 9:53 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:56 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 1.8% at $1.69, then ran from the open to the high of $3.12 in 59 minutes through a halt.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 5:20 a.m. | Pre-market high, $1.79 | |
| 8:25 a.m. | News (GlobeNewsWire): HCW Biologics Announces Pricing of $1.5 Million Private Placement | |
| 8:30 a.m. | SEC filing 8-K: 8-K | |
| 9:30 a.m. | The open: $1.69, up 1.8% from the previous close | |
| 10:03 a.m. | First trade 20% above the previous close of $1.66 | |
| 10:29 a.m. | High of the day to the close, $3.12 | |
| 11:12 a.m. | Volume since 4:00 a.m. passes the whole float, 1.65 million shares | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.98, 36.5% 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
- $1.66
- Open, 9:30 a.m.
- $1.69
- Gap at the open
- +1.8%
- Pre-market high
- $1.79 at 5:20 a.m.
- High, 4 a.m. to 4 p.m.
- $3.12 at 10:29 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.40
- Close, 4 p.m.
- $1.98
- Change at 4 p.m.
- +19.3%
- After-hours high, 4 p.m. to 8 p.m.
- $2.00 at 4:59 p.m.
- Volume, 4 a.m. to 4 p.m.
- 4.63 million
- Volume after hours, 4 p.m. to 8 p.m.
- 78,384
- Relative volume by 8 p.m.
- 29.9×
- Float
- 1.65 million shares, from filings as of September 24, 2026
- Shares outstanding
- 1.84 million
- From news to the move: the first trade 20% above the previous close came 1 hour 32 minutes after the latest SEC filing before it (8-K, 8:30 a.m.).
- Volume, from the one-minute bars: 32,787 shares before the 9:30 a.m. open (1%), 13,837 in the first 30 minutes (0%), and 4.66 million in the rest of the day to 8 p.m. (99%).
- Float rotation, the volume since 4 a.m. against the float of 1.65 million shares: past it once at 11:12 a.m., twice at 11:24 a.m.
- Other days HCWB met the small-cap rule in our recaps: 2, the latest on September 8, 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 (2)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 10:04 a.m. | 10:29 a.m. | 24 min 56 s | up 31.5% | $3.12, up 31.1% | LULD pause (limit up-limit down) | ||
| 10:29 a.m. | 10:34 a.m. | 5 min 0 s | up 5.0% | $2.45, down 2.0% | 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 HCWB on September 24, 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.