Hindsight Markets Recaps Small-cap stocks on September 10, 2026
TNON, September 10: the $5.00 ask wall
TNON opened up 72%, ran to $5.94, then gave back some of the run by the close.
What happened
A wall at $5.00
It closed at $2.44 the day before. It opened at $4.20, with a big ask wall at $5.00 from 8:58.
Stop It's 9:48. TNON is at $4.75, up from $4.57 four minutes ago. A large block of stock is offered at exactly $5.00, just above. 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 held. A 78K-share buy sweep topped out at $4.98.
Back near the walls
Stop It's 2:22. TNON is at $4.58, after a slow climb from $4.27. Large blocks of stock are offered at $4.80 and at $5.00. It has not traded above $4.98 all day. Would you buy here?
Press play: the real Level 2, tape and chart run from 2:19 p.m. and stop at 2:22 p.m. ET for your call.
The walls went in seconds. At 2:22:57, 61K shares traded at $5.00 in under a second, and that wall was gone.
After the break
It reached $5.77 at 2:23, then slid to $5.03.
Stop It's 2:48. TNON is at $5.44. It has climbed from $5.11 in four minutes and is near the $5.77 high from 2:23. Would you buy here?
Press play: the real Level 2, tape and chart run from 2:45 p.m. and stop at 2:48 p.m. ET for your call.
One more sweep hit $5.94, the session high. It then faded and closed at $5.30, up 117%.
What to take from it: A wall that held for hours broke in a second, and buying right after cost more than the screen showed.
Replay TNON's day
It starts at 2:05 p.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 2:08 p.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 72.1% to $4.20 at the open, ran from the open to the high of $5.94 in 318 minutes, then gave back 37% of that move by 4:00 p.m., trading at $5.30, still above the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $2.44 | |
| 4:13 a.m. | Volume since 4:00 a.m. passes the whole float, 972,127 shares | |
| 9:09 a.m. | Pre-market high, $4.39 | |
| 9:30 a.m. | The open: $4.20, up 72.1% from the previous close | |
| 2:48 p.m. | High of the day to the close, $5.94 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $5.30, 10.8% 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
- $2.44
- Open, 9:30 a.m.
- $4.20
- Gap at the open
- +72.1%
- Pre-market high
- $4.39 at 9:09 a.m.
- High, 4 a.m. to 4 p.m.
- $5.94 at 2:48 p.m.
- Low, 4 a.m. to 4 p.m.
- $3.12
- Close, 4 p.m.
- $5.30
- Change at 4 p.m.
- +117.2%
- After-hours high, 4 p.m. to 8 p.m.
- $6.10 at 4:29 p.m.
- Volume, 4 a.m. to 4 p.m.
- 49.84 million
- Volume after hours, 4 p.m. to 8 p.m.
- 5.11 million
- Relative volume by 8 p.m.
- 23.9×
- Float
- 972,127 shares, from filings as of September 10, 2026
- Shares outstanding
- 1.03 million
- Volume, from the one-minute bars: 13.12 million shares before the 9:30 a.m. open (24%), 11.24 million in the first 30 minutes (20%), and 30.59 million in the rest of the day to 8 p.m. (56%).
- Float rotation, the volume since 4 a.m. against the float of 972,127 shares: past it once at 4:13 a.m., twice at 4:34 a.m., three times at 5:40 a.m.
- Other days TNON met the small-cap rule in our recaps: 6, the latest on September 30, 2026.
- The next session, September 11, 2026, it was up 11.7% from its previous close at the 4:00 p.m. close.
On the day's lists: the pre-market gappers, gainers, intraday runners, after-hours movers. It is here because it met the small-cap rule on the pre-market gappers: 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 TNON 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 TNON on September 10, 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.