Hindsight Markets Recaps Small-cap stocks on September 4, 2026
IMRN, September 4: a 6:00 headline, a push to $1.99, and three bid walls
IMRN opened up 62% after news and held near that level into the close.
News via Stock News API
What happened
News before dawn
A 6:00 a.m. headline woke up a thin stock. Only 1,500 shares traded the day before, and it closed at $1.12.
The headline said Immuron would launch PROIBS® in the United States. Big volume came a few minutes later. By 6:48 a.m., more shares had traded than the whole float. It reached $1.98 before the bell.
The push to $1.99
The open brought one more push. It opened at $1.81, up 62%. At 9:45 a.m. it hit $1.99 on over 1M shares. A large ask wall sat at $2.00.
A bid wall of about 153K shares had formed at $1.84 at 9:41.
Stop It's 9:48. IMRN is at $1.90. Just below, a bid wall that peaked at about 150,000 shares at 9:41 sits at $1.84, and the stock hit $1.99 three minutes ago. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:45 a.m. and stop at 9:48 a.m. ET for your call.
The wall did not hold. It was eaten at 9:49:28, with 25K shares trading at $1.84. A few minutes later the stock was at $1.71.
Lower highs, broken bids
The next push stopped lower, at $1.86 by 10:07. A 190K-share bid at $1.75 was eaten at 10:45:59, and it fell to $1.66 within minutes. A bid at $1.55 broke at 1:23:57 p.m. The low after the open was $1.54. It closed at $1.78, up 59%.
What to take from it: On IMRN, the bid walls at $1.84 and $1.75 both broke, and the push after the $1.99 top stopped lower.
Replay IMRN's day
It starts at 7:13 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:16 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 and hold. It gapped up 61.6% to $1.81 at the open and held near or above it, trading at $1.78 at 4:00 p.m.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 6:00 a.m. | News (GlobeNewsWire): Immuron to launch PROIBS® in the United States | |
| 6:13 a.m. | First trade 20% above the previous close of $1.12 | |
| 6:48 a.m. | Volume since 4:00 a.m. passes the whole float, 6.47 million shares | |
| 7:31 a.m. | Pre-market high, $1.98 | |
| 9:30 a.m. | The open: $1.81, up 61.6% from the previous close | |
| 9:45 a.m. | High of the day to the close, $1.99 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.78, 10.6% 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
- $1.12
- Open, 9:30 a.m.
- $1.81
- Gap at the open
- +61.6%
- Pre-market high
- $1.98 at 7:31 a.m.
- High, 4 a.m. to 4 p.m.
- $1.99 at 9:45 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.13
- Close, 4 p.m.
- $1.78
- Change at 4 p.m.
- +58.9%
- After-hours high, 4 p.m. to 8 p.m.
- $1.82 at 4:04 p.m.
- Volume, 4 a.m. to 4 p.m.
- 62.87 million
- Volume after hours, 4 p.m. to 8 p.m.
- 2.37 million
- Relative volume by 8 p.m.
- n/m
- Float
- 6.47 million shares, from filings as of September 4, 2026
- Shares outstanding
- 6.71 million
- From news to the move: the first trade 20% above the previous close came 13 minutes after the latest news item before it (GlobeNewsWire, 6:00 a.m.).
- Volume, from the one-minute bars: 33.21 million shares before the 9:30 a.m. open (51%), 13.11 million in the first 30 minutes (20%), and 18.92 million in the rest of the day to 8 p.m. (29%).
- Float rotation, the volume since 4 a.m. against the float of 6.47 million shares: past it once at 6:48 a.m., twice at 7:24 a.m., three times at 7:46 a.m.
- In our recaps, this is the only day IMRN 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 (none)
The exchange's halt feed shows no halts for IMRN 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 IMRN on September 4, 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.