Hindsight Markets Recaps Small-cap stocks on September 23, 2026
TNMG, September 23: four halts and $7.11
TNMG opened near its previous close, then ran to $7.11 through four halts during the session.
What happened
Two pre-market spikes
No news showed for the day. It spiked to $6.27 at 8:01 a.m., then fell back under $4.
It opened at $4.01.
Stop It's 10:15. TNMG is at $4.70, up from the $4.01 open. The pre-market high of $6.27 is well above. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:12 a.m. and stop at 10:15 a.m. ET for your call.
It ran to $5.38 and was halted at 10:18:35.
The first reopen
The first reopen jumped past the pre-market high. At 10:33:53 it reopened at $6.45, then sold down to $5.81 that minute.
Stop It's 10:34. TNMG is at $6.03, seconds after it reopened from a 15-minute halt at $6.45. The pre-market high of $6.27 is above. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:31 a.m. and stop at 10:34 a.m. ET for your call.
It ran to $7.10 and was halted. After the next reopen it made $7.11. Two more halts each reopened lower.
The fourth halt
The last reopen was lower still: $4.12 at 11:00:58, 42% under $7.11.
Stop It's 11:01. TNMG is at $4.30, seconds after it reopened from its fourth halt at $4.12. It was at $7.11 twenty-two minutes ago. Would you buy here?
Press play: the real Level 2, tape and chart run from 10:58 a.m. and stop at 11:01 a.m. ET for your call.
It touched $4.00 that minute and closed at $4.49.
What to take from it: After the high, every reopen landed lower, and fills cost more than the screen showed.
Replay TNMG's day
It starts at 7:43 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:46 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 1.5% at $4.01, then ran from the open to the high of $7.11 in 69 minutes through two halts.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 5:13 a.m. | First trade 20% above the previous close of $3.95 | |
| 8:01 a.m. | Pre-market high, $6.27 | |
| 8:02 a.m. | Volume since 4:00 a.m. passes the whole float, 697,299 shares | |
| 9:30 a.m. | The open: $4.01, up 1.5% from the previous close | |
| 10:39 a.m. | High of the day to the close, $7.11 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.49, 36.8% 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
- $3.95
- Open, 9:30 a.m.
- $4.01
- Gap at the open
- +1.5%
- Pre-market high
- $6.27 at 8:01 a.m.
- High, 4 a.m. to 4 p.m.
- $7.11 at 10:39 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.65
- Close, 4 p.m.
- $4.49
- Change at 4 p.m.
- +13.7%
- After-hours high, 4 p.m. to 8 p.m.
- $4.76 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 2.47 million
- Volume after hours, 4 p.m. to 8 p.m.
- 32,011
- Relative volume by 8 p.m.
- 1.7×
- Float
- 697,299 shares, from filings as of September 23, 2026
- Shares outstanding
- 760,573
- Volume, from the one-minute bars: 1.09 million shares before the 9:30 a.m. open (44%), 46,307 in the first 30 minutes (2%), and 1.36 million in the rest of the day to 8 p.m. (55%).
- Float rotation, the volume since 4 a.m. against the float of 697,299 shares: past it once at 8:02 a.m., twice at 10:33 a.m., three times at 11:07 a.m.
- Other days TNMG met the small-cap rule in our recaps: 5, the latest on October 30, 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 (4)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 10:18 a.m. | 10:33 a.m. | 15 min 18 s | up 16.5% | $6.45, up 19.9% | up 10.1% | LULD pause (limit up-limit down) | |
| 10:34 a.m. | 10:39 a.m. | 5 min 0 s | up 32.0% | $6.50, down 8.5% | LULD pause (limit up-limit down) | ||
| 10:39 a.m. | 10:50 a.m. | 10 min 33 s | down 17.6% | $5.00, down 14.5% | LULD pause (limit up-limit down) | ||
| 10:50 a.m. | 11:00 a.m. | 10 min 0 s | down 23.1% | $4.12, down 8.4% | up 8.3% | 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 TNMG on September 23, 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.