Hindsight Markets Recaps Small-cap stocks on September 28, 2026
TRSG, September 28: a gap that faded
TRSG opened up 11%, 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 $2.15, on 636K shares.
The open
It opened up 11%, at $1.46.
The close
It closed at $1.37, 36% 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 10.6% to $1.46 at the open and traded below the open by 4:00 p.m., at $1.37.
| Time (ET) | What happened |
|---|---|
| 4:35 a.m. | First trade 20% above the previous close of $1.32 |
| 4:36 a.m. | Pre-market high, $2.15 |
| 4:36 a.m. | High of the day to the close, $2.15 |
| 9:30 a.m. | The open: $1.46, up 10.6% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.37, 36.3% 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
- $1.32
- Open, 9:30 a.m.
- $1.46
- Gap at the open
- +10.6%
- Pre-market high
- $2.15 at 4:36 a.m.
- High, 4 a.m. to 4 p.m.
- $2.15 at 4:36 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.25
- Close, 4 p.m.
- $1.37
- Change at 4 p.m.
- +3.8%
- After-hours high, 4 p.m. to 8 p.m.
- $1.46 at 4:39 p.m.
- Volume, 4 a.m. to 4 p.m.
- 736,560
- Volume after hours, 4 p.m. to 8 p.m.
- 46,965
- Relative volume by 8 p.m.
- n/m
- Float
- 5.18 million shares, from filings as of September 28, 2026
- Shares outstanding
- 16.35 million
- Volume, from the one-minute bars: 636,092 shares before the 9:30 a.m. open (81%), 31,907 in the first 30 minutes (4%), and 115,526 in the rest of the day to 8 p.m. (15%).
- In our recaps, this is the only day TRSG met the small-cap rule.
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 (none)
The exchange's halt feed shows no halts for TRSG 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 TRSG 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.