Hindsight Markets Recaps Small-cap stocks on August 19, 2026
FEMY, August 19: a 9:00 spike, a $3.97 wall, and $3.69
FEMY opened up 36%, ran to $3.69, then fell below its open by the close.
What happened
Draft for review. Not published.
Pre-market jump
FEMY had closed at $2.20 and barely traded overnight. At 9:00 it woke up with a spike to $2.71. A minute later it was down at $2.07.
Stop It's 9:17. FEMY is at $2.63. Since 9:11 it has traded between $2.40 and $2.69, and $3.00 is above. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:14 a.m. and stop at 9:17 a.m. ET for your call.
It broke out. The 9:17 minute went through $3.00, and at 9:18 it hit $3.50 on 384K shares. By 9:22 it was back at $2.72.
The wall at $3.97
The open was $3.00, up 36% from the prior close. At 9:32:25 an ask wall appeared at $3.97, above the market.
Stop It's 9:33. FEMY is at $3.29, after a 9:31 high of $3.62 and a 9:32 low of $3.12. An ask wall has been sitting at $3.97 since 9:32. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:30 a.m. and stop at 9:33 a.m. ET for your call.
The price never reached the wall. That minute FEMY topped at $3.69, the high of the day. The wall was pulled at 9:33:33, and nobody traded through it.
Fade to the close
Every push after the top stopped lower: $3.65, then $3.60, then $3.28 at 10:13. It slid to $2.27 by 11:19. It closed at $2.66, 28% under the high.
What to take from it: On FEMY, the $3.97 wall was pulled without a single trade against it, and the stock topped below it.
Replay FEMY's day
It starts at 9:00 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 9:03 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 36.4% to $3.00 at the open, ran from the open to the high of $3.69 in 3 minutes, then gave back 149% of that move by 4:00 p.m., trading at $2.66, below the open.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 9:00 a.m. | First trade 20% above the previous close of $2.20 | |
| 9:18 a.m. | Pre-market high, $3.50 | |
| 9:30 a.m. | The open: $3.00, up 36.4% from the previous close | |
| 9:33 a.m. | High of the day to the close, $3.69 | |
| 10:04 a.m. | Volume since 4:00 a.m. passes the whole float, 8.28 million shares | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $2.66, 27.9% 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
- $2.20
- Open, 9:30 a.m.
- $3.00
- Gap at the open
- +36.4%
- Pre-market high
- $3.50 at 9:18 a.m.
- High, 4 a.m. to 4 p.m.
- $3.69 at 9:33 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.07
- Close, 4 p.m.
- $2.66
- Change at 4 p.m.
- +20.9%
- After-hours high, 4 p.m. to 8 p.m.
- $2.75 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 12.30 million
- Volume after hours, 4 p.m. to 8 p.m.
- 130,679
- Relative volume by 8 p.m.
- 140.2×
- Float
- 8.28 million shares, from filings as of August 19, 2026
- Shares outstanding
- 8.38 million
- Volume, from the one-minute bars: 3.00 million shares before the 9:30 a.m. open (24%), 5.18 million in the first 30 minutes (42%), and 4.26 million in the rest of the day to 8 p.m. (34%).
- Float rotation, the volume since 4 a.m. against the float of 8.28 million shares: past it once at 10:04 a.m.
- In our recaps, this is the only day FEMY met the small-cap rule.
On the day's lists: the pre-market gappers, gainers, intraday runners. It is here because it met the small-cap rule on the pre-market gappers: 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 FEMY 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 FEMY on August 19, 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.