Hindsight Markets Recaps Small-cap stocks on September 1, 2026
PW, September 1: a pre-market spike to $10.93
PW spiked to $10.93 before the open, then gave much of it back in the session.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $10.93, on 214K shares.
The open
It opened down 11%, at $6.95.
The close
It closed at $7.21, 34% under its high.
What to take from it: The move happened before the bell. The regular session never got back to the pre-market high.
The details
How it traded, step by step
Pre-market spike. Before the open it spiked 40.3% from $7.79 to $10.93 at 4:21 a.m.. It opened down 10.8% at $6.95 and traded at $7.21 at 4:00 p.m.
| Time (ET) | What happened |
|---|---|
| 4:20 a.m. | First trade 20% above the previous close of $7.79 |
| 4:21 a.m. | Pre-market high, $10.93 |
| 4:21 a.m. | High of the day to the close, $10.93 |
| 9:30 a.m. | The open: $6.95, down 10.8% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $7.21, 34.0% 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
- $7.79
- Open, 9:30 a.m.
- $6.95
- Gap at the open
- −10.8%
- Pre-market high
- $10.93 at 4:21 a.m.
- High, 4 a.m. to 4 p.m.
- $10.93 at 4:21 a.m.
- Low, 4 a.m. to 4 p.m.
- $6.48
- Close, 4 p.m.
- $7.21
- Change at 4 p.m.
- −7.4%
- After-hours high, 4 p.m. to 8 p.m.
- $7.98 at 5:24 p.m.
- Volume, 4 a.m. to 4 p.m.
- 245,738
- Volume after hours, 4 p.m. to 8 p.m.
- 5,258
- Relative volume by 8 p.m.
- n/m
- Float
- 278,243 shares, from filings as of September 1, 2026
- Shares outstanding
- 367,120
- Volume, from the one-minute bars: 213,635 shares before the 9:30 a.m. open (85%), 8,522 in the first 30 minutes (3%), and 28,839 in the rest of the day to 8 p.m. (11%).
- In our recaps, this is the only day PW met the small-cap rule.
On the day's lists: the intraday runners. It is here because it met the small-cap rule on the intraday runners: 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 (none)
The exchange's halt feed shows no halts for PW 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 PW on September 1, 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.