Hindsight Markets Recaps Small-cap stocks on October 7, 2026
MI, October 7: $2.46 at 4:17 a.m., then a fade to $1.54
MI opened up 33%, ran to $1.84, then gave back most of the run by the close.
What happened
Draft for review. Not published.
The 4 a.m. spike
An offering was priced the day before. By 4:10 a.m., more than MI's whole float had traded.
Stop It's 4:15. MI is at $1.83. For four minutes it has stayed between $1.80 and $1.88, and more than the whole float has already traded. Would you buy a break higher?
Press play: the real Level 2, tape and chart run from 4:12 a.m. and stop at 4:15 a.m. ET for your call.
It broke out. At 4:17 it hit $2.46, the day's high.
The $1.59 bid
A big buyer held $1.59 from 6:55, peaking near 68K shares.
Stop It's 7:34. MI is at $1.59. A bid wall has sat at $1.59 since 6:55, peaking near 68,000 shares at 7:11. Would you buy here, against that bid?
Press play: the real Level 2, tape and chart run from 7:31 a.m. and stop at 7:34 a.m. ET for your call.
Sellers ate it. 19K shares traded there in 5.7 seconds, and it was gone. By 7:40 it hit $1.48.
The $1.77 ask
Before the open, a 130K-share ask wall appeared at $1.77 at 8:59:53.
Stop It's 9:00. MI is at $1.75. About 130,000 shares are offered at $1.77, two cents above. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:57 a.m. and stop at 9:00 a.m. ET for your call.
Nobody bought through it. It was pulled at 9:07:30. MI opened at $1.62 and closed at $1.54, 37% under the high.
What to take from it: On this day the high came before the bell, and the big walls did not hold.
Replay MI's day
It starts at 8:33 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 8:36 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 32.8% to $1.62 at the open, ran from the open to the high of $1.84 in 171 minutes, then gave back 136% of that move by 4:00 p.m., trading at $1.54, still above the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $1.22 | |
| 4:10 a.m. | Volume since 4:00 a.m. passes the whole float, 955,086 shares | |
| 4:17 a.m. | Pre-market high, $2.46 | |
| 4:17 a.m. | High of the day to the close, $2.46 | |
| 9:30 a.m. | The open: $1.62, up 32.8% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.54, 37.4% 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
- $1.22
- Open, 9:30 a.m.
- $1.62
- Gap at the open
- +32.8%
- Pre-market high
- $2.46 at 4:17 a.m.
- High, 4 a.m. to 4 p.m.
- $2.46 at 4:17 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.41
- Close, 4 p.m.
- $1.54
- Change at 4 p.m.
- +26.2%
- After-hours high, 4 p.m. to 8 p.m.
- $1.62 at 4:02 p.m.
- Volume, 4 a.m. to 4 p.m.
- 18.71 million
- Volume after hours, 4 p.m. to 8 p.m.
- 330,646
- Relative volume by 8 p.m.
- 4.7×
- Float
- 955,086 shares, from filings as of October 7, 2026
- Shares outstanding
- 955,086
- Volume, from the one-minute bars: 13.72 million shares before the 9:30 a.m. open (72%), 1.46 million in the first 30 minutes (8%), and 3.87 million in the rest of the day to 8 p.m. (20%).
- Float rotation, the volume since 4 a.m. against the float of 955,086 shares: past it once at 4:10 a.m., twice at 4:16 a.m., three times at 4:19 a.m.
- Other days MI met the small-cap rule in our recaps: 4, the latest on October 9, 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 (none)
The exchange's halt feed shows no halts for MI that day.
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 MI on October 7, 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.