Hindsight Markets Recaps Small-cap stocks on October 5, 2026
SDEV, October 5: six halts and a gap that faded
SDEV opened up 31%, 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 $12.73, on 19M shares.
The open
It opened up 31%, at $9.82.
The halts
Each halt froze the price and reopened it somewhere new. The exchange halted it six times, from 9:34 a.m. to 11:02 a.m.
The close
It closed at $3.93, 69% 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 31.3% to $9.82 at the open and traded below the open by 4:00 p.m., at $3.93.
| Time (ET) | What happened |
|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $7.48 |
| 6:18 a.m. | Pre-market high, $12.73 |
| 6:18 a.m. | High of the day to the close, $12.73 |
| 9:30 a.m. | The open: $9.82, up 31.3% from the previous close |
| 10:26 a.m. | Volume since 4:00 a.m. passes the whole float, 29.08 million shares |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.93, 69.1% 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
- $7.48
- Open, 9:30 a.m.
- $9.82
- Gap at the open
- +31.3%
- Pre-market high
- $12.73 at 6:18 a.m.
- High, 4 a.m. to 4 p.m.
- $12.73 at 6:18 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.25
- Close, 4 p.m.
- $3.93
- Change at 4 p.m.
- −47.5%
- After-hours high, 4 p.m. to 8 p.m.
- $3.94 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 44.51 million
- Volume after hours, 4 p.m. to 8 p.m.
- 3.69 million
- Relative volume by 8 p.m.
- 4.3×
- Float
- 29.08 million shares, from filings as of October 5, 2026
- Shares outstanding
- 51.75 million
- Volume, from the one-minute bars: 19.26 million shares before the 9:30 a.m. open (40%), 5.23 million in the first 30 minutes (11%), and 23.70 million in the rest of the day to 8 p.m. (49%).
- Float rotation, the volume since 4 a.m. against the float of 29.08 million shares: past it once at 10:26 a.m.
- Other days SDEV met the small-cap rule in our recaps: 11, the latest on October 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 (6)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 9:34 a.m. | 9:39 a.m. | 5 min 0 s | down 22.0% | $7.61, up 0.4% | down 10.0% | LULD pause (limit up-limit down) |
| 9:40 a.m. | 9:50 a.m. | 10 min 0 s | down 9.6% | $6.82, down 0.4% | down 14.7% | LULD pause (limit up-limit down) |
| 9:55 a.m. | 10:05 a.m. | 10 min 0 s | down 11.1% | $5.40, down 3.4% | down 10.1% | LULD pause (limit up-limit down) |
| 10:13 a.m. | 10:18 a.m. | 5 min 0 s | up 16.5% | $5.74, up 3.1% | down 13.6% | LULD pause (limit up-limit down) |
| 10:31 a.m. | 10:36 a.m. | 5 min 0 s | down 11.0% | $4.30, down 1.6% | down 6.9% | LULD pause (limit up-limit down) |
| 11:02 a.m. | 11:07 a.m. | 5 min 0 s | up 16.0% | $4.95, up 0.2% | down 7.3% | 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 SDEV on October 5, 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.