Hindsight Markets Recaps Small-cap stocks on September 4, 2026
AKAN, September 4: $6.15 at 8:08 a.m., then a fade to $3.35
AKAN opened up 19%, then faded below its open by the close.
What happened
Draft for review. Not published.
The early spike
AKAN had a float of only 479K shares, and it was all traded before 6 a.m. It opened the morning at $4.45, above the $3.67 close.
Stop It's 8:08. AKAN is at $4.69. It has climbed from $4.31 at 8:00 on heavy volume, and the float already traded several times over. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:05 a.m. and stop at 8:08 a.m. ET for your call.
The 8:08 minute ran to $6.15, the day's high. By 8:17 it was at $4.97.
A wall nobody reached
The bounce stopped lower, at $5.54 at 8:22. At 8:31:52 a 125K-share wall sat at $6.02.
Stop It's 8:32. AKAN is at $5.10, below the $5.54 high from 8:22. About 125,000 shares are offered at $6.02, over a quarter of the float. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:29 a.m. and stop at 8:32 a.m. ET for your call.
The price never went near $6.02. It fell to $4.59 at 8:33, then $4.08 the next minute.
News, then a slow slide
The 9:05 headline barely moved it. It opened at $4.37 and went quiet.
Stop It's 11:04. AKAN is at $4.14. For the last 40 minutes it has stayed between $4.14 and $4.32. Would you buy here?
Press play: the real Level 2, tape and chart run from 11:01 a.m. and stop at 11:04 a.m. ET for your call.
At 11:04:50 sell orders swept it down to $3.95. It closed at $3.35, 46% under the high.
What to take from it: The whole move happened before the open, and the big offer at $6.02 was never reached.
Replay AKAN's day
It starts at 7:50 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:53 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 and fade. It gapped up 19.1% to $4.37 at the open and traded below the open by 4:00 p.m., at $3.35.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 4:00 a.m. | First trade 20% above the previous close of $3.67 | |
| 5:54 a.m. | Volume since 4:00 a.m. passes the whole float, 479,413 shares | |
| 8:08 a.m. | Pre-market high, $6.15 | |
| 8:08 a.m. | High of the day to the close, $6.15 | |
| 9:30 a.m. | The open: $4.37, up 19.1% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $3.35, 45.5% 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
- $3.67
- Open, 9:30 a.m.
- $4.37
- Gap at the open
- +19.1%
- Pre-market high
- $6.15 at 8:08 a.m.
- High, 4 a.m. to 4 p.m.
- $6.15 at 8:08 a.m.
- Low, 4 a.m. to 4 p.m.
- $3.28
- Close, 4 p.m.
- $3.35
- Change at 4 p.m.
- −8.7%
- After-hours high, 4 p.m. to 8 p.m.
- $3.74 at 5:06 p.m.
- Volume, 4 a.m. to 4 p.m.
- 10.22 million
- Volume after hours, 4 p.m. to 8 p.m.
- 178,147
- Relative volume by 8 p.m.
- 11.2×
- Float
- 479,413 shares, from filings as of September 4, 2026
- Shares outstanding
- 480,976
- Volume, from the one-minute bars: 7.68 million shares before the 9:30 a.m. open (74%), 730,462 in the first 30 minutes (7%), and 1.99 million in the rest of the day to 8 p.m. (19%).
- Float rotation, the volume since 4 a.m. against the float of 479,413 shares: past it once at 5:54 a.m., twice at 7:25 a.m., three times at 8:04 a.m.
- Other days AKAN met the small-cap rule in our recaps: 6, the latest on September 22, 2026.
On the day's lists: the pre-market gappers, 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 AKAN 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 AKAN on September 4, 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.