Hindsight Markets Recaps Small-cap stocks on September 16, 2026
QCLS, September 16: 21 halts and $2.16
QCLS opened near its previous close, then ran to $2.16 through 21 halts during the session.
What happened
News, then a run
This run followed a day-old headline: the company named a new chief technology officer. QCLS opened at $0.46, ran to $0.70 by 9:57, and was halted at 9:58:18.
The $0.61 wall
Here the big offer vanished during a halt. A 454K-share ask wall at $0.61 peaked at 10:04:07, the second the stock halted again. It was pulled at 10:04:55, still halted. The stock reopened at $0.59.
Stop It's 10:19. QCLS is at $0.84. It reopened from a halt at $0.59 ten minutes ago, and the day's volume has already passed the 7.75 million-share float. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:16 a.m. and stop at 10:19 a.m. ET for your call.
It topped a minute later at $0.93. By 10:46 it was down to $0.58.
Climbing toward $1
Stop It's 11:26. QCLS is at $0.84. It was at $0.72 at 11:20 and has been climbing. $1.00 is just above. Would you buy here?
Press play: the real Level 2, tape and chart run from 11:23 a.m. and stop at 11:26 a.m. ET for your call.
It kept running and halted at $1.02. Later a 466K-share bid at $1.47 sat under the fifth halt. It was pulled at 11:49:00, seconds after the reopen, and the stock fell to $1.33 that minute.
Top and fade
The top came at the 12:37:43 reopen: $2.16. It faded to $0.79 by 1:33, was halted a 21st time at 1:59:24, and closed at $0.97.
What to take from it: On this day, big walls and bids were pulled during or just after halts, so they did not hold the price.
Replay QCLS's day
It starts at 11:20 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 11:23 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. It opened up 2.7% at $0.4596, then ran from the open to the high of $2.16 in 187 minutes through 12 halts.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:12 a.m. | Pre-market high, $0.482 | |
| 9:30 a.m. | The open: $0.4596, up 2.7% from the previous close | |
| 9:55 a.m. | First trade 20% above the previous close of $0.4477 | |
| 10:13 a.m. | Volume since 4:00 a.m. passes the whole float, 7.75 million shares | |
| 12:37 p.m. | High of the day to the close, $2.16 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $0.97, 55.1% 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
- $0.4477
- Open, 9:30 a.m.
- $0.4596
- Gap at the open
- +2.7%
- Pre-market high
- $0.482 at 4:12 a.m.
- High, 4 a.m. to 4 p.m.
- $2.16 at 12:37 p.m.
- Low, 4 a.m. to 4 p.m.
- $0.43
- Close, 4 p.m.
- $0.97
- Change at 4 p.m.
- +116.7%
- After-hours high, 4 p.m. to 8 p.m.
- $1.24 at 4:02 p.m.
- Volume, 4 a.m. to 4 p.m.
- 73.54 million
- Volume after hours, 4 p.m. to 8 p.m.
- 3.05 million
- Relative volume by 8 p.m.
- 234.9×
- Float
- 7.75 million shares, from filings as of September 16, 2026
- Shares outstanding
- 8.19 million
- Volume, from the one-minute bars: 114,271 shares before the 9:30 a.m. open (0%), 1.45 million in the first 30 minutes (2%), and 75.02 million in the rest of the day to 8 p.m. (98%).
- Float rotation, the volume since 4 a.m. against the float of 7.75 million shares: past it once at 10:13 a.m., twice at 10:23 a.m., three times at 10:40 a.m.
- Other days QCLS met the small-cap rule in our recaps: 1, the latest on September 24, 2026.
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 (21)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 9:58 a.m. | 10:03 a.m. | 5 min 0 s | up 45.5% | $0.72, unchanged | down 15.3% | LULD pause (limit up-limit down) | |
| 10:04 a.m. | 10:09 a.m. | 5 min 0 s | down 15.3% | $0.59, down 3.3% | up 35.6% | LULD pause (limit up-limit down) | |
| 11:27 a.m. | 11:32 a.m. | 5 min 0 s | up 28.1% | $1.02, unchanged | up 10.8% | LULD pause (limit up-limit down) | |
| 11:38 a.m. | 11:43 a.m. | 5 min 0 s | up 21.5% | $1.32, up 1.5% | LULD pause (limit up-limit down) | ||
| 11:43 a.m. | 11:48 a.m. | 5 min 0 s | up 13.1% | $1.48, up 0.7% | down 10.1% | LULD pause (limit up-limit down) | |
| 11:49 a.m. | 11:59 a.m. | 10 min 0 s | down 9.5% | $1.11, down 16.5% | up 9.0% | LULD pause (limit up-limit down) | |
| 12:02 p.m. | 12:07 p.m. | 5 min 0 s | down 9.0% | $1.30, up 7.4% | up 12.3% | LULD pause (limit up-limit down) | |
| 12:08 p.m. | 12:13 p.m. | 5 min 0 s | up 20.7% | $1.26, down 13.7% | up 20.6% | LULD pause (limit up-limit down) | |
| 12:14 p.m. | 12:19 p.m. | 5 min 0 s | up 4.1% | $1.63, up 7.2% | down 9.2% | LULD pause (limit up-limit down) | |
| 12:20 p.m. | 12:25 p.m. | 5 min 0 s | down 2.6% | $1.48, unchanged | up 18.2% | LULD pause (limit up-limit down) | |
| 12:27 p.m. | 12:32 p.m. | 5 min 0 s | up 18.2% | $1.85, up 5.7% | LULD pause (limit up-limit down) | ||
| 12:32 p.m. | 12:37 p.m. | 5 min 0 s | up 14.3% | $2.01, up 0.5% | up 7.5% | LULD pause (limit up-limit down) | |
| 12:38 p.m. | 12:43 p.m. | 5 min 0 s | up 8.0% | $2.16, unchanged | LULD pause (limit up-limit down) | ||
| 12:43 p.m. | 12:53 p.m. | 10 min 0 s | down 6.9% | $1.65, down 17.9% | LULD pause (limit up-limit down) | ||
| 12:53 p.m. | 12:58 p.m. | 5 min 0 s | down 25.4% | $1.40, down 6.7% | down 12.9% | LULD pause (limit up-limit down) | |
| 1:01 p.m. | 1:06 p.m. | 5 min 0 s | down 18.7% | $1.20, down 1.6% | down 1.7% | LULD pause (limit up-limit down) | |
| 1:11 p.m. | 1:16 p.m. | 5 min 0 s | down 16.9% | $1.11, unchanged | unchanged | LULD pause (limit up-limit down) | |
| 1:23 p.m. | 1:28 p.m. | 5 min 0 s | down 17.4% | $0.9785, up 3.0% | down 12.1% | LULD pause (limit up-limit down) | |
| 1:47 p.m. | 1:52 p.m. | 5 min 0 s | up 23.2% | $1.15, up 2.7% | up 20.9% | LULD pause (limit up-limit down) | |
| 1:53 p.m. | 1:58 p.m. | 5 min 0 s | up 24.1% | $1.42, up 2.2% | down 10.6% | LULD pause (limit up-limit down) | |
| 1:59 p.m. | 2:04 p.m. | 5 min 0 s | down 8.6% | $1.23, down 3.1% | down 9.8% | 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 QCLS 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.