Hindsight Markets Recaps Small-cap stocks on September 22, 2026
DCOY, September 22: a 7:30 headline, one halt, and $7.61
DCOY more than doubled at the open after news, ran to $7.61 through one halt, then fell below its open by the close.
News via Stock News API
What happened
Morning headline
A 7:30 a.m. headline sent DCOY flying. By 7:33, more shares had traded than its whole float. It opened at $5.16, double the $2.55 prior close.
The $6.00 wall
On this day, the ask wall at $6.00 was the level to watch. It had sat there since 8:21 a.m.
Stop It's 9:33. DCOY is at $5.83. Just above, an ask wall sits at $6.00. It peaked at 72,024 shares at 9:23. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:32 a.m. and stop at 9:33 a.m. ET for your call.
Buyers ate the wall in 2.5 seconds. By 9:37 it hit $7.08.
Stop It's 9:41. DCOY is at $6.74. The high so far is $7.08 from 9:37, and $7.07 printed in the minute before. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:39 a.m. and stop at 9:41 a.m. ET for your call.
Big buy orders at 9:41:16 pushed it to $7.61, the day's high. By 9:46 it was back at $6.34.
Warrant news and halt
At 12:50, a second headline announced a $3.85M warrant deal.
Stop It's 12:51. DCOY is at $4.27. A warrant inducement headline came out a minute ago. Would you buy here?
Press play: the real Level 2, tape and chart run from 12:48 p.m. and stop at 12:51 p.m. ET for your call.
A 108K-share sell order drove it to $3.41, and it was halted at 12:51:40. It reopened 3% higher at $3.50, then faded to $3.09 at the close.
What to take from it: The $6.00 wall broke in seconds, but after the warrant news the stock closed 59% below its high.
Replay DCOY's day
It starts at 7:40 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:43 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 and fade. It gapped up 102.8% to $5.16 at the open, ran from the open to the high of $7.61 in 11 minutes, then gave back 184% of that move by 4:00 p.m., trading at $3.09, below the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 7:30 a.m. | News (PRNewsWire): Decoy Therapeutics Exploring Pan-Filovirus Program via FDA Animal Rule Pathway and Non-Dilutive Funding | |
| 7:32 a.m. | First trade 20% above the previous close of $2.54 | |
| 7:33 a.m. | Volume since 4:00 a.m. passes the whole float, 597,047 shares | |
| 8:28 a.m. | Pre-market high, $5.76 | |
| 9:30 a.m. | The open: $5.16, up 102.8% from the previous close | |
| 9:41 a.m. | High of the day to the close, $7.61 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.09, 59.4% 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
- $2.54
- Open, 9:30 a.m.
- $5.16
- Gap at the open
- +102.8%
- Pre-market high
- $5.76 at 8:28 a.m.
- High, 4 a.m. to 4 p.m.
- $7.61 at 9:41 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.54
- Close, 4 p.m.
- $3.09
- Change at 4 p.m.
- +21.4%
- After-hours high, 4 p.m. to 8 p.m.
- $4.10 at 5:11 p.m.
- Volume, 4 a.m. to 4 p.m.
- 44.99 million
- Volume after hours, 4 p.m. to 8 p.m.
- 1.69 million
- Relative volume by 8 p.m.
- 2266.4×
- Float
- 597,047 shares, from filings as of September 22, 2026
- Shares outstanding
- 655,185
- From news to the move: the first trade 20% above the previous close came 2 minutes after the latest news item before it (PRNewsWire, 7:30 a.m.).
- Volume, from the one-minute bars: 18.75 million shares before the 9:30 a.m. open (40%), 12.41 million in the first 30 minutes (27%), and 15.52 million in the rest of the day to 8 p.m. (33%).
- Float rotation, the volume since 4 a.m. against the float of 597,047 shares: past it once at 7:33 a.m., twice at 7:34 a.m., three times at 7:36 a.m.
- Other days DCOY met the small-cap rule in our recaps: 1, the latest on September 23, 2026.
- The next session, September 23, 2026, it was up 22.9% 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 (1)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 12:51 p.m. | 12:56 p.m. | 5 min 0 s | down 19.8% | $3.50, up 2.6% | up 1.3% | 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 DCOY on September 22, 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.