Hindsight Markets Recaps Small-cap stocks on October 9, 2026
MI, October 9: a 4:30 run to $1.75, a 31-minute halt, and the $0.93 bid
MI opened up 12%, ran to $1.27 through one halt, then fell below its open by the close.
What happened
The 4:30 run
The only headline came the day before: NFT Ltd. priced a $1.0 million offering. MI closed that day at $0.89. At 4:30 a.m. it sat at $0.99, and six minutes later it was $1.64.
Stop It's 4:36. MI is at $1.64, up from $0.99 six minutes ago, and it's pre-market. Would you chase it here?
Press play: the real Level 2, tape and chart run from 4:33 a.m. and stop at 4:36 a.m. ET for your call.
That minute hit $1.75. By 4:38 it was $1.46.
The halt and the $0.93 bid
This afternoon a news halt froze it at 2:13:56, last bar $1.06. During the halt, a 77K-share bid and a 100K-share offer both sat at $0.93.
Stop It's 2:45. MI has been halted for news since 2:13 p.m., and the last bar before the halt closed at $1.06. Level 2 shows a large bid and a large offer, both at $0.93. Would you buy the reopen at $0.93?
Press play: the real Level 2, tape and chart run from 2:42 p.m. and stop at 2:45 p.m. ET for your call.
It reopened at 2:45:00 at $0.93, 12% lower. The bid was eaten, not pulled. About 55K shares traded there, and it was gone by 2:45:11.
The close
It fell to $0.81 at 3:00 p.m. The session closed at $0.89, 49% under the high.
What to take from it: A big bid at the reopen price can be eaten in seconds, and the price can keep falling.
Replay MI's day
It starts at 9:26 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:29 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
Gap, run and fade. It gapped up 11.9% to $1.00 at the open, ran from the open to the high of $1.27 in 9 minutes, then gave back 139% of that move by 4:00 p.m., trading at $0.8944, below the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $0.8937 | |
| 4:36 a.m. | Pre-market high, $1.75 | |
| 4:36 a.m. | High of the day to the close, $1.75 | |
| 9:30 a.m. | The open: $1.00, up 11.9% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $0.8944, 48.9% 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
- $0.8937
- Open, 9:30 a.m.
- $1.00
- Gap at the open
- +11.9%
- Pre-market high
- $1.75 at 4:36 a.m.
- High, 4 a.m. to 4 p.m.
- $1.75 at 4:36 a.m.
- Low, 4 a.m. to 4 p.m.
- $0.81
- Close, 4 p.m.
- $0.8944
- Change at 4 p.m.
- +0.1%
- After-hours high, 4 p.m. to 8 p.m.
- $0.955 at 5:16 p.m.
- Volume, 4 a.m. to 4 p.m.
- 19.57 million
- Volume after hours, 4 p.m. to 8 p.m.
- 737,569
- Relative volume by 8 p.m.
- 4.0×
- Float
- not available
- Shares outstanding
- not available
- Volume, from the one-minute bars: 12.18 million shares before the 9:30 a.m. open (60%), 2.29 million in the first 30 minutes (11%), and 5.84 million in the rest of the day to 8 p.m. (29%).
- Other days MI met the small-cap rule in our recaps: 4, the latest on October 7, 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 |
|---|---|---|---|---|---|---|---|
| 2:13 p.m. | 2:45 p.m. | 31 min 4 s | down 0.9% | $0.93, down 11.8% | down 4.8% | News pending |
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 MI on October 9, 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.