Hindsight Markets Recaps Small-cap stocks on September 28, 2026
CSAI, September 28: four halts and $5.12
CSAI opened near its previous close, ran to $5.12 through four halts, then fell 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 $3.86, on 5K shares.
The open
It opened near its previous close, at $3.85. It ran to $5.12 by 9:58 a.m.
The halts
Each halt froze the price and reopened it somewhere new. The exchange halted it four times, from 9:53 a.m. to 3:35 p.m.
The close
It closed at $2.50, 51% under its high.
What to take from it: The run did not hold: it finished below where it opened.
The details
How it traded, step by step
Intraday run and fade. It opened up 9.1% at $3.85, then ran from the open to the high of $5.12 in 28 minutes through a halt, and gave it all back: it traded at $2.50 at 4:00 p.m., below the open.
| Time (ET) | What happened |
|---|---|
| 4:00 a.m. | Pre-market high, $3.86 |
| 9:30 a.m. | The open: $3.85, up 9.1% from the previous close |
| 9:52 a.m. | First trade 20% above the previous close of $3.53 |
| 9:58 a.m. | High of the day to the close, $5.12 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $2.50, 51.2% 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
- $3.53
- Open, 9:30 a.m.
- $3.85
- Gap at the open
- +9.1%
- Pre-market high
- $3.86 at 4:00 a.m.
- High, 4 a.m. to 4 p.m.
- $5.12 at 9:58 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.36
- Close, 4 p.m.
- $2.50
- Change at 4 p.m.
- −29.2%
- After-hours high, 4 p.m. to 8 p.m.
- $2.97 at 4:52 p.m.
- Volume, 4 a.m. to 4 p.m.
- 749,788
- Volume after hours, 4 p.m. to 8 p.m.
- 6,394
- Relative volume by 8 p.m.
- 37.4×
- Float
- 864,504 shares, from filings as of September 28, 2026
- Shares outstanding
- 867,282
- Volume, from the one-minute bars: 5,350 shares before the 9:30 a.m. open (1%), 263,313 in the first 30 minutes (35%), and 487,519 in the rest of the day to 8 p.m. (64%).
- In our recaps, this is the only day CSAI met the small-cap rule.
On the day's lists: the intraday runners, after-hours movers. It is here because it met the small-cap rule on the intraday runners: 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 (4)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 9:53 a.m. | 9:58 a.m. | 5 min 0 s | up 10.6% | $4.65, up 3.3% | down 4.7% | LULD pause (limit up-limit down) |
| 9:59 a.m. | 10:04 a.m. | 5 min 0 s | down 1.6% | $4.30, down 2.9% | down 17.7% | LULD pause (limit up-limit down) |
| 10:05 a.m. | 10:10 a.m. | 5 min 0 s | down 20.1% | $3.53, down 0.3% | down 7.1% | LULD pause (limit up-limit down) |
| 3:35 p.m. | 3:40 p.m. | 5 min 0 s | down 17.4% | $2.45, up 2.9% | up 6.1% | 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 CSAI on September 28, 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.