Hindsight Markets Recaps Small-cap stocks on September 25, 2026
IPDN, September 25: the $5.90 wall, one halt, and $6.29
IPDN opened near its previous close, then ran to $6.29 through one halt during the session.
What happened
A wall at $5.90
No news came out today. At 12:59, up to 26K shares were offered at $5.90, about 6% of the float.
Stop It's 1:03. IPDN is at $5.74. A wall of up to 25,825 shares has been offered at $5.90 since 12:59, and more sits at $6.25. Would you buy here?
Press play: the real Level 2, tape and chart run from 1:00 p.m. and stop at 1:03 p.m. ET for your call.
Buyers ate the wall at 1:03:20. In under a second, 24K shares traded at $5.90. At 1:04 it hit $6.29, the high.
Halt and a pulled bid
The drop came fast. A halt froze it at 1:12:29 at $4.97. It reopened at 1:22:29 at $4.90 and slid to $4.35 by 1:25.
Stop It's 1:26. IPDN is at $4.43, down from $6.29 at 1:04. A bid wall has been sitting at $4.01 since 1:24. Would you buy here?
Press play: the real Level 2, tape and chart run from 1:23 p.m. and stop at 1:26 p.m. ET for your call.
The $4.01 bid was pulled at 1:26:29. The bounce topped at $4.77, a lower high, and it slid to $4.05 by 1:31.
The close
It traded at $4.44 in the last regular minute, 29% below the high.
What to take from it: Here the wall was a level buyers broke, not a ceiling.
Replay IPDN's day
It starts at 12:46 p.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 12:49 p.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 down 3.6% at $4.02, then ran from the open to the high of $6.29 in 214 minutes.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | Pre-market high, $4.00 | |
| 9:30 a.m. | The open: $4.02, down 3.6% from the previous close | |
| 12:38 p.m. | First trade 20% above the previous close of $4.17 | |
| 12:59 p.m. | Volume since 4:00 a.m. passes the whole float, 413,227 shares | |
| 1:04 p.m. | High of the day to the close, $6.29 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.44, 29.4% 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
- $4.17
- Open, 9:30 a.m.
- $4.02
- Gap at the open
- −3.6%
- Pre-market high
- $4.00 at 4:00 a.m.
- High, 4 a.m. to 4 p.m.
- $6.29 at 1:04 p.m.
- Low, 4 a.m. to 4 p.m.
- $3.71
- Close, 4 p.m.
- $4.44
- Change at 4 p.m.
- +6.5%
- After-hours high, 4 p.m. to 8 p.m.
- $4.59 at 4:05 p.m.
- Volume, 4 a.m. to 4 p.m.
- 1.62 million
- Volume after hours, 4 p.m. to 8 p.m.
- 58,593
- Relative volume by 8 p.m.
- 1.1×
- Float
- 413,227 shares, from filings as of September 25, 2026
- Shares outstanding
- 481,677
- Volume, from the one-minute bars: 12,720 shares before the 9:30 a.m. open (1%), 45,307 in the first 30 minutes (3%), and 1.62 million in the rest of the day to 8 p.m. (97%).
- Float rotation, the volume since 4 a.m. against the float of 413,227 shares: past it once at 12:59 p.m., twice at 1:05 p.m., three times at 1:23 p.m.
- Other days IPDN met the small-cap rule in our recaps: 3, the latest on October 6, 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 (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 |
|---|---|---|---|---|---|---|---|
| 1:12 p.m. | 1:22 p.m. | 10 min 0 s | down 9.8% | $4.90, down 1.4% | down 6.5% | 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 IPDN on September 25, 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.