Hindsight Markets Recaps Small-cap stocks on September 28, 2026
VWAV, September 28: news and a pre-market spike to $7.10
VWAV spiked to $7.10 before the open after news, then gave much of it back in the session.
News via Stock News API
What happened
Before the open
The news came first: news at 7:00 a.m. Before the bell it reached $7.10, on 3.4M shares.
The open
It opened near its previous close, at $4.50.
The close
It closed at $4.57, 36% under its high.
What to take from it: The move happened before the bell. The regular session never got back to the pre-market high.
The details
How it traded, step by step
Pre-market spike. Before the open it spiked 45.8% from $4.87 to $7.10 at 7:14 a.m.. It opened down 7.6% at $4.50 and traded at $4.57 at 4:00 p.m.
| Time (ET) | What happened |
|---|---|
| 7:00 a.m. | News (GlobeNewsWire): VisionWave Highlights STRATUM Autonomous Ground Systems Platform for Multi-Mission Defense Operations |
| 7:05 a.m. | First trade 20% above the previous close of $4.87 |
| 7:14 a.m. | Pre-market high, $7.10 |
| 7:14 a.m. | High of the day to the close, $7.10 |
| 7:18 a.m. | Volume since 4:00 a.m. passes the whole float, 1.88 million shares |
| 9:30 a.m. | The open: $4.50, down 7.6% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.57, 35.7% 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
- $4.87
- Open, 9:30 a.m.
- $4.50
- Gap at the open
- −7.6%
- Pre-market high
- $7.10 at 7:14 a.m.
- High, 4 a.m. to 4 p.m.
- $7.10 at 7:14 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.89
- Close, 4 p.m.
- $4.57
- Change at 4 p.m.
- −6.3%
- After-hours high, 4 p.m. to 8 p.m.
- $4.78 at 5:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 3.69 million
- Volume after hours, 4 p.m. to 8 p.m.
- 34,959
- Relative volume by 8 p.m.
- 45.3×
- Float
- 1.88 million shares, from filings as of September 28, 2026
- Shares outstanding
- 2.23 million
- From news to the move: the first trade 20% above the previous close came 5 minutes after the latest news item before it (GlobeNewsWire, 7:00 a.m.).
- Volume, from the one-minute bars: 3.37 million shares before the 9:30 a.m. open (90%), 112,875 in the first 30 minutes (3%), and 243,276 in the rest of the day to 8 p.m. (7%).
- Float rotation, the volume since 4 a.m. against the float of 1.88 million shares: past it once at 7:18 a.m.
- Other days VWAV met the small-cap rule in our recaps: 1, the latest on August 14, 2026.
On the day's lists: the intraday runners. 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 (none)
The exchange's halt feed shows no halts for VWAV 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 VWAV 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.