Hindsight Markets Recaps Small-cap stocks on September 25, 2026
IPST, September 25: four halts, the $4.50 wall, and $4.80
IPST opened near its previous close, then ran to $4.80 through four halts during the session.
What happened
Draft for review. Not published.
Two fast halts
IPST ran from $2.98 to $4.28 by 10:15. It was halted at 10:15:53 and reopened ten minutes later at $4.39. A 30K-share offer sat at $4.50. A second halt at 10:26:48 reopened at $3.75.
A dip that kept going
It bounced to $4.25 by 11:36.
Stop It's 11:39. IPST is at $3.74, down from $4.25 three minutes ago. Would you buy this dip?
Press play: the real Level 2, tape and chart run from 11:36 a.m. and stop at 11:39 a.m. ET for your call.
At 11:39:55 it was halted at $3.56. It reopened at 11:49:55 lower, at $3.32.
The walls pulled
By 1:52 it sat under two offers held since the morning.
Stop It's 1:52. IPST is at $4.08, up from $3.70 at 1:10. Offers at $4.50 and $4.70 have sat on the book since the morning, about 30,000 and 26,000 shares at their peaks. Would you buy here?
Press play: the real Level 2, tape and chart run from 1:49 p.m. and stop at 1:52 p.m. ET for your call.
At 1:56:23 the $4.70 wall was pulled, then the $4.50 wall. Two minutes later IPST hit its high of $4.80. A fourth halt came at 2:03:56. It closed at $3.70, up 21%.
What to take from it: Offers that sat for hours were pulled just before the run to the high.
Replay IPST's day
It starts at 9:41 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:44 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 down 2.3% at $2.98, then ran from the open to the high of $4.80 in 268 minutes through 3 halts.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 9:01 a.m. | Pre-market high, $3.07 | |
| 9:30 a.m. | The open: $2.98, down 2.3% from the previous close | |
| 9:53 a.m. | First trade 20% above the previous close of $3.05 | |
| 12:50 p.m. | Volume since 4:00 a.m. passes the whole float, 696,891 shares | |
| 1:58 p.m. | High of the day to the close, $4.80 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.70, 22.9% 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
- $3.05
- Open, 9:30 a.m.
- $2.98
- Gap at the open
- −2.3%
- Pre-market high
- $3.07 at 9:01 a.m.
- High, 4 a.m. to 4 p.m.
- $4.80 at 1:58 p.m.
- Low, 4 a.m. to 4 p.m.
- $2.98
- Close, 4 p.m.
- $3.70
- Change at 4 p.m.
- +21.3%
- After-hours high, 4 p.m. to 8 p.m.
- $4.18 at 6:17 p.m.
- Volume, 4 a.m. to 4 p.m.
- 1.63 million
- Volume after hours, 4 p.m. to 8 p.m.
- 73,751
- Relative volume by 8 p.m.
- 32.8×
- Float
- 696,891 shares, from filings as of September 25, 2026
- Shares outstanding
- 721,578
- Volume, from the one-minute bars: 764 shares before the 9:30 a.m. open (0%), 41,690 in the first 30 minutes (2%), and 1.66 million in the rest of the day to 8 p.m. (98%).
- Float rotation, the volume since 4 a.m. against the float of 696,891 shares: past it once at 12:50 p.m., twice at 2:16 p.m.
- Other days IPST met the small-cap rule in our recaps: 5, the latest on October 27, 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 (4)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 10:15 a.m. | 10:25 a.m. | 10 min 0 s | up 13.8% | $4.39, up 2.6% | down 12.3% | LULD pause (limit up-limit down) | |
| 10:26 a.m. | 10:31 a.m. | 5 min 0 s | down 10.0% | $3.75, down 2.6% | down 2.9% | LULD pause (limit up-limit down) | |
| 11:39 a.m. | 11:49 a.m. | 10 min 0 s | down 5.3% | $3.32, down 6.7% | up 9.6% | LULD pause (limit up-limit down) | |
| 2:03 p.m. | 2:13 p.m. | 10 min 0 s | down 10.6% | $3.86, down 4.5% | down 2.8% | 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 IPST 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.