Hindsight Markets Recaps Small-cap stocks on August 31, 2026
XAIR, August 31: an 8:00 headline, $6.93, and the walls above it
XAIR spiked to $6.93 before the open after news, then gave much of it back in the session.
News via Stock News API
What happened
Draft for review. Not published.
The 8:00 headline
The FDA news hit at 8:00 a.m. and woke a quiet stock. XAIR had closed at $4.48 the day before. The first minute reached $5.10.
Stop It's 8:01. XAIR is at $5.03. The previous close was $4.48, and a news headline came out a minute ago. Would you buy here?
Press play: the real Level 2, tape and chart run from 7:58 a.m. and stop at 8:01 a.m. ET for your call.
Buyers piled in. The 8:01 minute ran to $6.53 on 473K shares. It hit $6.93 in the 8:02 minute, up 55% from the close.
Walls above, a lower high
On this morning, big sell orders kept showing up above the price, then vanishing. Four ask walls of about 24K to 29K shares were pulled within minutes. At 8:10 the stock reached $6.36, below the $6.93 high. At 8:10:37 a new wall appeared at $7.46.
Stop It's 8:11. XAIR is at $6.07. It made a high of $6.36 a minute ago, below the $6.93 top. A new ask wall just appeared at $7.46. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:08 a.m. and stop at 8:11 a.m. ET for your call.
The 8:11 minute was the heaviest since 8:02, with 347K shares. It fell to $4.99, more than a dollar lost in one minute.
The open and the close
By the bell, the gains were gone. It opened at $4.52, near the old close. It hit a $3.85 low at 1:06 p.m. Its last regular minute closed at $3.90.
What to take from it: The whole run happened before the open, and the walls above it were pulled as fast as they appeared.
Replay XAIR's day
It starts at 7:56 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:59 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
Pre-market spike. Before the open it spiked 54.7% from $4.48 to $6.93 at 8:02 a.m.. It opened up 0.9% at $4.52 and traded at $3.90 at 4:00 p.m.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 8:00 a.m. | News (GlobeNewsWire): Beyond Air® Receives FDA Breakthrough Device Designation for LungFit® GO to Treat Nontuberculous Mycobacterial Pulmonary Disease (NTM-PD) | |
| 8:01 a.m. | First trade 20% above the previous close of $4.48 | |
| 8:02 a.m. | Pre-market high, $6.93 | |
| 8:02 a.m. | Volume since 4:00 a.m. passes the whole float, 904,175 shares | |
| 8:02 a.m. | High of the day to the close, $6.93 | |
| 9:30 a.m. | The open: $4.52, up 0.9% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.90, 43.7% 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
- $4.48
- Open, 9:30 a.m.
- $4.52
- Gap at the open
- +0.9%
- Pre-market high
- $6.93 at 8:02 a.m.
- High, 4 a.m. to 4 p.m.
- $6.93 at 8:02 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.85
- Close, 4 p.m.
- $3.90
- Change at 4 p.m.
- −12.9%
- After-hours high, 4 p.m. to 8 p.m.
- $4.10 at 5:23 p.m.
- Volume, 4 a.m. to 4 p.m.
- 4.30 million
- Volume after hours, 4 p.m. to 8 p.m.
- 31,865
- Relative volume by 8 p.m.
- 55.9×
- Float
- 904,175 shares, from filings as of August 31, 2026
- Shares outstanding
- 984,407
- From news to the move: the first trade 20% above the previous close came 1 minute after the latest news item before it (GlobeNewsWire, 8:00 a.m.).
- Volume, from the one-minute bars: 3.76 million shares before the 9:30 a.m. open (87%), 165,606 in the first 30 minutes (4%), and 412,412 in the rest of the day to 8 p.m. (10%).
- Float rotation, the volume since 4 a.m. against the float of 904,175 shares: past it once at 8:02 a.m., twice at 8:07 a.m., three times at 8:11 a.m.
- Other days XAIR met the small-cap rule in our recaps: 2, the latest on August 27, 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 XAIR 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 XAIR on August 31, 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.