Hindsight Markets Recaps Small-cap stocks on September 30, 2026
TNON, September 30: the $3 break, walls above, and $5.04
TNON opened near its previous close after news, then ran to $5.04 during the session.
News via Stock News API
What happened
The news and the $3 break
A product-launch headline at 8:30 a.m. lifted TNON to $2.99 before the bell. It faded and opened at $2.75.
The real move started at 10:25, its first trade above $3. It ran to $4.84 by 11:07.
Walls above $5
Sellers stacked offers far above the price. At 11:10:55 a wall of about 56K shares appeared at $5.36.
Stop It's 11:16. TNON is at $4.55, after dipping from $4.84 at 11:07. Since 11:10, a wall of offers has sat at $5.36, peaking near 56,000 shares. Would you buy here?
Press play: the real Level 2, tape and chart run from 11:13 a.m. and stop at 11:16 a.m. ET for your call.
Here's what happened. Buyers swept higher, and at 11:18:18 the $5.36 wall was pulled without trading. At 11:19:40 a new 50K-share wall showed at $5.65.
Stop It's 11:20. TNON is at $4.83, up from $2.73 at the previous close. A new wall of 50,000 shares sits at $5.65, and the stock has been pushing against $4.96. Would you buy here?
Press play: the real Level 2, tape and chart run from 11:17 a.m. and stop at 11:20 a.m. ET for your call.
Here's what happened. At 11:20:46 a buy swept to $5.04, the high, up 85%. That minute traded 662K shares, the most all day.
The fade
The top held. The $5.65 wall was pulled at 11:21:40, never reached. The next push stopped at $4.34, and it closed at $4.05.
What to take from it: Both walls left untouched, and the busiest minute was the top.
Replay TNON's day
It starts at 10:26 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 10:29 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 0.7% at $2.75, then ran from the open to the high of $5.04 in 110 minutes.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 8:30 a.m. | News (Accesswire): Tenon(R) Medical Announces Full Commercial Launch of the SImmetry(R)+ SI Joint Fusion 3D Printed Lateral Screw Following Successful Alpha Launch | |
| 8:30 a.m. | Pre-market high, $2.99 | |
| 9:30 a.m. | The open: $2.75, up 0.7% from the previous close | |
| 10:31 a.m. | First trade 20% above the previous close of $2.73 | |
| 10:39 a.m. | Volume since 4:00 a.m. passes the whole float, 972,127 shares | |
| 11:20 a.m. | High of the day to the close, $5.04 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.05, 19.6% 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
- $2.73
- Open, 9:30 a.m.
- $2.75
- Gap at the open
- +0.7%
- Pre-market high
- $2.99 at 8:30 a.m.
- High, 4 a.m. to 4 p.m.
- $5.04 at 11:20 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.72
- Close, 4 p.m.
- $4.05
- Change at 4 p.m.
- +48.4%
- After-hours high, 4 p.m. to 8 p.m.
- $4.45 at 4:08 p.m.
- Volume, 4 a.m. to 4 p.m.
- 16.91 million
- Volume after hours, 4 p.m. to 8 p.m.
- 1.36 million
- Relative volume by 8 p.m.
- 2.9×
- Float
- 972,127 shares, from filings as of September 30, 2026
- Shares outstanding
- 1.03 million
- From news to the move: the first trade 20% above the previous close came 2 hours 1 minute after the latest news item before it (Accesswire, 8:30 a.m.).
- Volume, from the one-minute bars: 33,894 shares before the 9:30 a.m. open (0%), 17,670 in the first 30 minutes (0%), and 18.21 million in the rest of the day to 8 p.m. (100%).
- Float rotation, the volume since 4 a.m. against the float of 972,127 shares: past it once at 10:39 a.m., twice at 10:44 a.m., three times at 10:53 a.m.
- Other days TNON met the small-cap rule in our recaps: 6, the latest on September 11, 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 (none)
The exchange's halt feed shows no halts for TNON 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 TNON on September 30, 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.