Hindsight Markets Recaps Small-cap stocks on September 16, 2026
NAMI, September 16: a 6:58 a.m. spike to $3.98, a $3.00 wall, and a fade
NAMI opened up 20%, ran to $3.70, then gave back most of the run by the close.
What happened
The catalyst
NAMI came in hot from a press release on September 15 about AI micro-drama content. It closed that day at $2.28, then traded at $3.32 after hours.
The 6:58 spike
Volume woke up at 6:47 a.m., and an ask wall began building at $4.00 that same minute.
Stop It's 6:57. NAMI is at $3.43, up from $3.15 at 6:52. An ask wall has been sitting at $4.00 since 6:47. Would you buy here?
Press play: the real Level 2, tape and chart run from 6:54 a.m. and stop at 6:57 a.m. ET for your call.
Buyers swept the book. It hit $3.98 in the 6:58 minute, two cents under the wall.
Then it reversed just as fast. By 7:18 it was at $2.54, down 36% from the top.
The $3.00 wall
After a push to $3.37 at 10:30, the stock stalled under an ask wall at $3.00 from 11:34.
Stop It's 12:49. NAMI is at $2.95. A large ask wall has been sitting at $3.00 for over an hour. Would you buy here?
Press play: the real Level 2, tape and chart run from 12:46 p.m. and stop at 12:49 p.m. ET for your call.
At 12:49:47 buyers ate the wall. 15K shares traded at $3.00 in under a second. That minute reached $3.10, but it only worked up to $3.20 by 1:06.
The close
A late push stopped at $3.70 at 3:23 p.m., under the morning high. It closed at $3.12, 22% below the top.
What to take from it: NAMI's biggest spike came before the open, and every push after it stopped lower.
Replay NAMI's day
It starts at 10:12 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 10:15 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 20.2% to $2.74 at the open, ran from the open to the high of $3.70 in 353 minutes, then gave back 60% of that move by 4:00 p.m., trading at $3.12, still above the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $2.28 | |
| 6:58 a.m. | Pre-market high, $3.98 | |
| 6:58 a.m. | Volume since 4:00 a.m. passes the whole float, 2.17 million shares | |
| 6:58 a.m. | High of the day to the close, $3.98 | |
| 9:30 a.m. | The open: $2.74, up 20.2% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.12, 21.6% 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
- $2.28
- Open, 9:30 a.m.
- $2.74
- Gap at the open
- +20.2%
- Pre-market high
- $3.98 at 6:58 a.m.
- High, 4 a.m. to 4 p.m.
- $3.98 at 6:58 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.51
- Close, 4 p.m.
- $3.12
- Change at 4 p.m.
- +36.8%
- After-hours high, 4 p.m. to 8 p.m.
- $3.12 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 7.77 million
- Volume after hours, 4 p.m. to 8 p.m.
- 186,947
- Relative volume by 8 p.m.
- 12.5×
- Float
- 2.17 million shares, from filings as of September 16, 2026
- Shares outstanding
- 3.16 million
- Volume, from the one-minute bars: 4.16 million shares before the 9:30 a.m. open (52%), 204,776 in the first 30 minutes (3%), and 3.59 million in the rest of the day to 8 p.m. (45%).
- Float rotation, the volume since 4 a.m. against the float of 2.17 million shares: past it once at 6:58 a.m., twice at 9:52 a.m., three times at 12:42 p.m.
- Other days NAMI met the small-cap rule in our recaps: 4, the latest on September 28, 2026.
On the day's lists: the pre-market gappers, gainers, intraday runners. 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 NAMI 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 NAMI on September 16, 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.