Hindsight Markets Recaps Small-cap stocks on October 21, 2026
REED, October 21: a fast spike to $1.07, two halts, and a slide to $0.33
REED opened near its previous close, ran to $1.07 through two halts, then fell below its open by the close.
What happened
Draft for review. Not published.
A quiet open, then a ten-minute spike
REED opened at $0.4395, below the previous close, and drifted until 9:56. By 10:02 it was at $0.81 and halted. It reopened at 10:12:39.
It touched $1.07, the high of the day, in the 10:12 minute. About 1M shares traded that minute and 1.5M the next, when it dipped to $0.75.
The wall at $0.74
It pushed back to $0.9488 at 10:18, a lower high. A 297K-share ask wall at $0.74 appeared at 10:21:03, the same minute it was halted at 10:21:17.
Stop It's 10:26. REED is about to reopen from a halt that began at 10:21:17 with the last trade at $0.74. It touched $1.07 at 10:12. Would you buy the reopen?
Press play: the real Level 2, tape and chart run from 10:23 a.m. and stop at 10:26 a.m. ET for your call.
It reopened at $0.7395 and fell to $0.58 within the minute. Bids at $0.49 and $0.47 did not hold: one was pulled, and the other was eaten at 10:30:57. By 10:36 it was at $0.40.
A news release, then a late wall
At 1:00 p.m., GlobeNewsWire ran “Reed's Provides Response to Unusual Market Action.” The low of the day, $0.33, came at 1:12 p.m.
At 3:59:28 an ask wall at $0.3948 was hit: 60K shares traded there in under 9 seconds. It closed at $0.4148, 61% below the high.
What to take from it: The spike peaked within a minute of the first halt reopen, and the two bid walls seen under it gave way.
Replay REED's day
It starts at 9:44 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:47 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 and fade. It opened down 4.4% at $0.4395, then ran from the open to the high of $1.07 in 42 minutes through a halt, and gave it all back: it traded at $0.4148 at 4:00 p.m., below the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:35 a.m. | Pre-market high, $0.4999 | |
| 9:30 a.m. | The open: $0.4395, down 4.4% from the previous close | |
| 9:59 a.m. | First trade 20% above the previous close of $0.4596 | |
| 10:12 a.m. | High of the day to the close, $1.07 | |
| 10:18 a.m. | Volume since 4:00 a.m. passes the whole float, 5.71 million shares | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $0.4148, 61.2% 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
- $0.4596
- Open, 9:30 a.m.
- $0.4395
- Gap at the open
- −4.4%
- Pre-market high
- $0.4999 at 4:35 a.m.
- High, 4 a.m. to 4 p.m.
- $1.07 at 10:12 a.m.
- Low, 4 a.m. to 4 p.m.
- $0.33
- Close, 4 p.m.
- $0.4148
- Change at 4 p.m.
- −9.7%
- After-hours high, 4 p.m. to 8 p.m.
- $0.4498 at 6:20 p.m.
- Volume, 4 a.m. to 4 p.m.
- 13.33 million
- Volume after hours, 4 p.m. to 8 p.m.
- 645,930
- Relative volume by 8 p.m.
- 36.8×
- Float
- 5.71 million shares, from filings as of October 21, 2026
- Shares outstanding
- 11.86 million
- Volume, from the one-minute bars: 39,791 shares before the 9:30 a.m. open (0%), 54,611 in the first 30 minutes (0%), and 13.88 million in the rest of the day to 8 p.m. (99%).
- Float rotation, the volume since 4 a.m. against the float of 5.71 million shares: past it once at 10:18 a.m., twice at 10:56 a.m.
- In our recaps, this is the only day REED 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 |
|---|---|---|---|---|---|---|---|
| 10:02 a.m. | 10:12 a.m. | 10 min 1 s | up 55.8% | $0.85, up 4.9% | up 6.2% | LULD pause (limit up-limit down) | |
| 10:21 a.m. | 10:26 a.m. | 5 min 0 s | down 18.0% | $0.7395, down 0.1% | down 35.9% | 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 REED on October 21, 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.