Hindsight Markets Recaps Small-cap stocks on September 22, 2026
NCT, September 22: a gap that faded
NCT opened up 19%, then faded below its open by the close.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $14.32, on 1.3M shares.
The open
It opened up 19%, at $6.77.
The close
It closed at $5.92, 59% under its high.
What to take from it: A big gap is not a trend. This one traded below its open by the close.
The details
How it traded, step by step
Gap and fade. It gapped up 18.8% to $6.77 at the open and traded below the open by 4:00 p.m., at $5.92.
| Time (ET) | What happened |
|---|---|
| 7:24 a.m. | First trade 20% above the previous close of $5.70 |
| 7:26 a.m. | Pre-market high, $14.32 |
| 7:26 a.m. | High of the day to the close, $14.32 |
| 7:44 a.m. | Volume since 4:00 a.m. passes the whole float, 1.00 million shares |
| 9:30 a.m. | The open: $6.77, up 18.8% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $5.92, 58.7% 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
- $5.70
- Open, 9:30 a.m.
- $6.77
- Gap at the open
- +18.8%
- Pre-market high
- $14.32 at 7:26 a.m.
- High, 4 a.m. to 4 p.m.
- $14.32 at 7:26 a.m.
- Low, 4 a.m. to 4 p.m.
- $5.40
- Close, 4 p.m.
- $5.92
- Change at 4 p.m.
- +3.9%
- After-hours high, 4 p.m. to 8 p.m.
- $6.75 at 5:44 p.m.
- Volume, 4 a.m. to 4 p.m.
- 1.58 million
- Volume after hours, 4 p.m. to 8 p.m.
- 29,494
- Relative volume by 8 p.m.
- 4.5×
- Float
- 1.00 million shares, from filings as of September 22, 2026
- Shares outstanding
- 1.03 million
- Volume, from the one-minute bars: 1.33 million shares before the 9:30 a.m. open (83%), 56,303 in the first 30 minutes (4%), and 221,769 in the rest of the day to 8 p.m. (14%).
- Float rotation, the volume since 4 a.m. against the float of 1.00 million shares: past it once at 7:44 a.m.
- Other days NCT met the small-cap rule in our recaps: 2, the latest on October 8, 2026.
On the day's lists: the pre-market gappers, 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 NCT 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 NCT 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.