Hindsight Markets Recaps Small-cap stocks on September 9, 2026
MGN, September 9: news, four halts, and $1.54
MGN more than tripled at the open after news, ran to $0.84 through four halts, then fell below its open by the close.
News via Stock News API
What happened
Before the open
The news came first: news at 4:50 p.m. the day before. Before the bell it reached $1.54, on 17M shares.
The open
It more than tripled at the open, at $0.3459. It ran to $0.84 by 9:49 a.m.
The halts
Each halt froze the price and reopened it somewhere new. The exchange halted it four times, from 3:04 a.m. to 9:49 a.m. The biggest jump was the reopen after 9:49 a.m.: 9% below the last trade before it.
The close
It closed at $0.2749, 82% under its high.
What to take from it: The whole move was given back: it finished below the price it opened at.
The details
How it traded, step by step
Gap, run and fade. It gapped up 244.5% to $0.3459 at the open, ran from the open to the high of $0.84 in 19 minutes through two halts, then gave back 114% of that move by 4:00 p.m., trading at $0.2749, below the open.
| Time (ET) | What happened |
|---|---|
| Sep 8, 11:15 a.m. | News (Business Wire): CLASS ACTION DEADLINE TONIGHT: Faruqi & Faruqi, LLP Reminds Megan Holdings Limited (NASDAQ: MGN) Investors of Securities Class Action Lawsuit Deadline on September 8, 2026 |
| Sep 8, 4:50 p.m. | News (GlobeNewsWire): INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Megan Holdings Limited of Class Action Lawsuit and Upcoming Deadlines – MGN |
| 9:01 a.m. | First trade 20% above the previous close of $0.1004 |
| 9:03 a.m. | Pre-market high, $1.54 |
| 9:03 a.m. | High of the day to the close, $1.54 |
| 9:30 a.m. | The open: $0.3459, up 244.5% from the previous close |
| 9:43 a.m. | Volume since 4:00 a.m. passes the whole float, 26.16 million shares |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $0.2749, 82.1% 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
- $0.1004
- Open, 9:30 a.m.
- $0.3459
- Gap at the open
- +244.5%
- Pre-market high
- $1.54 at 9:03 a.m.
- High, 4 a.m. to 4 p.m.
- $1.54 at 9:03 a.m.
- Low, 4 a.m. to 4 p.m.
- $0.1019
- Close, 4 p.m.
- $0.2749
- Change at 4 p.m.
- +173.8%
- After-hours high, 4 p.m. to 8 p.m.
- $0.3939 at 4:09 p.m.
- Volume, 4 a.m. to 4 p.m.
- 96.70 million
- Volume after hours, 4 p.m. to 8 p.m.
- 20.71 million
- Relative volume by 8 p.m.
- 16.9×
- Float
- 26.16 million shares, from filings as of September 9, 2026
- Shares outstanding
- 37.00 million
- From news to the move: the first trade 20% above the previous close came 16 hours 11 minutes after the latest news item before it (GlobeNewsWire, Sep 8, 4:50 p.m.).
- Volume, from the one-minute bars: 17.26 million shares before the 9:30 a.m. open (15%), 14.88 million in the first 30 minutes (13%), and 85.27 million in the rest of the day to 8 p.m. (73%).
- Float rotation, the volume since 4 a.m. against the float of 26.16 million shares: past it once at 9:43 a.m., twice at 10:47 a.m., three times at 12:55 p.m.
- Other days MGN met the small-cap rule in our recaps: 2, the latest on October 28, 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 (4)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 3:04 a.m. | 9:00 a.m. | 355 min 11 s | $0.1135 | up 498.2% | No reason given in the feed | |
| 9:38 a.m. | 9:43 a.m. | 5 min 0 s | up 39.8% | $0.68, down 4.2% | up 22.1% | LULD pause (limit up-limit down) |
| 9:44 a.m. | 9:49 a.m. | 5 min 0 s | up 16.9% | $0.8051, down 3.0% | LULD pause (limit up-limit down) | |
| 9:49 a.m. | 9:54 a.m. | 5 min 0 s | down 20.5% | $0.6001, down 9.1% | up 7.0% | LULD pause (limit up-limit down) |
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 MGN on September 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.