Hindsight Markets Recaps Small-cap stocks on September 25, 2026
CNET, September 25: two halts, a $2.87 top, and walls that were pulled
CNET opened up 29%, ran to $2.87 through two halts, then gave back most of the run by the close.
What happened
Draft for review. Not published.
A fast open
CNET ran hard before the bell with no news in our data. It closed the day before at $1.43 and hit $2.57 in the last pre-market minute. It opened at $1.84.
Two halts
The first halt froze it at $2.48 at 9:36:25. It reopened at 9:46:25 at $2.75 and hit $2.87 that minute.
The minute closed at $2.20. A second halt hit at 9:47:10, and it reopened at 9:52:10 at $2.16.
After the second halt
Stop It's 9:53. CNET is at $2.07. It reopened from its second halt at $2.16, dropped to $1.91, and the high so far is $2.87. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:50 a.m. and stop at 9:53 a.m. ET for your call.
Here's what happened. It bounced to $2.53 by the end of 9:54.
Stop It's 9:55. CNET is at $2.53, up from $2.07 two minutes ago. An offer for shares has just appeared at $2.70, above the market. The high so far is $2.87. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:52 a.m. and stop at 9:55 a.m. ET for your call.
Here's what happened. It reached $2.70 and stopped there. It never traded above $2.70 again.
Bids pulled, a weak close
Big bids did not hold the slide. Bids at $1.77 and $1.70 were both pulled, and the stock fell through $1.70 at 12:07. It closed at $1.77, 38% under the high.
What to take from it: The halt reopened higher, but the next push stopped lower, and the big bids below were pulled.
Replay CNET's day
It starts at 9:22 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:25 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
Gap, run, gave some back. It gapped up 28.7% to $1.84 at the open, ran from the open to the high of $2.87 in 16 minutes through a halt, then gave back 107% of that move by 4:00 p.m., trading at $1.77, still above the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 9:29 a.m. | First trade 20% above the previous close of $1.43 | |
| 9:29 a.m. | Pre-market high, $2.57 | |
| 9:30 a.m. | The open: $1.84, up 28.7% from the previous close | |
| 9:46 a.m. | High of the day to the close, $2.87 | |
| 9:55 a.m. | Volume since 4:00 a.m. passes the whole float, 3.21 million shares | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.77, 38.3% 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
- $1.43
- Open, 9:30 a.m.
- $1.84
- Gap at the open
- +28.7%
- Pre-market high
- $2.57 at 9:29 a.m.
- High, 4 a.m. to 4 p.m.
- $2.87 at 9:46 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.39
- Close, 4 p.m.
- $1.77
- Change at 4 p.m.
- +23.8%
- After-hours high, 4 p.m. to 8 p.m.
- $2.38 at 6:24 p.m.
- Volume, 4 a.m. to 4 p.m.
- 9.73 million
- Volume after hours, 4 p.m. to 8 p.m.
- 775,496
- Relative volume by 8 p.m.
- n/m
- Float
- 3.21 million shares, from filings as of September 25, 2026
- Shares outstanding
- 3.67 million
- Volume, from the one-minute bars: 33,022 shares before the 9:30 a.m. open (0%), 4.47 million in the first 30 minutes (43%), and 6.00 million in the rest of the day to 8 p.m. (57%).
- Float rotation, the volume since 4 a.m. against the float of 3.21 million shares: past it once at 9:55 a.m., twice at 10:11 a.m., three times at 3:35 p.m.
- In our recaps, this is the only day CNET met the small-cap rule.
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 |
|---|---|---|---|---|---|---|---|
| 9:36 a.m. | 9:46 a.m. | 10 min 0 s | up 17.5% | $2.75, up 10.9% | down 20.0% | LULD pause (limit up-limit down) | |
| 9:47 a.m. | 9:52 a.m. | 5 min 0 s | down 11.3% | $2.16, down 1.8% | up 11.6% | 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 CNET on September 25, 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.