Hindsight Markets Recaps Small-cap stocks on October 12, 2026
IPW, October 12: a gap that faded
IPW opened up 22%, 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 $1.22, on 8.9M shares.
The open
It opened up 22%, at $0.8277.
The close
It closed at $0.58, 52% 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 21.8% to $0.8277 at the open and traded below the open by 4:00 p.m., at $0.58.
| Time (ET) | What happened |
|---|---|
| 8:55 a.m. | First trade 20% above the previous close of $0.6795 |
| 8:57 a.m. | Pre-market high, $1.22 |
| 8:57 a.m. | High of the day to the close, $1.22 |
| 8:58 a.m. | Volume since 4:00 a.m. passes the whole float, 2.77 million shares |
| 9:30 a.m. | The open: $0.8277, up 21.8% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $0.58, 52.5% 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
- $0.6795
- Open, 9:30 a.m.
- $0.8277
- Gap at the open
- +21.8%
- Pre-market high
- $1.22 at 8:57 a.m.
- High, 4 a.m. to 4 p.m.
- $1.22 at 8:57 a.m.
- Low, 4 a.m. to 4 p.m.
- $0.5095
- Close, 4 p.m.
- $0.58
- Change at 4 p.m.
- −14.6%
- After-hours high, 4 p.m. to 8 p.m.
- $0.68 at 5:47 p.m.
- Volume, 4 a.m. to 4 p.m.
- 11.78 million
- Volume after hours, 4 p.m. to 8 p.m.
- 368,376
- Relative volume by 8 p.m.
- 5.7×
- Float
- 2.77 million shares, from filings as of October 12, 2026
- Shares outstanding
- 2.77 million
- Volume, from the one-minute bars: 8.89 million shares before the 9:30 a.m. open (73%), 1.29 million in the first 30 minutes (11%), and 1.96 million in the rest of the day to 8 p.m. (16%).
- Float rotation, the volume since 4 a.m. against the float of 2.77 million shares: past it once at 8:58 a.m., twice at 9:04 a.m., three times at 9:22 a.m.
- Other days IPW met the small-cap rule in our recaps: 4, the latest on October 8, 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 IPW 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 IPW on October 12, 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.