Hindsight Markets Recaps Small-cap stocks on September 11, 2026
AENT, September 11: news and a gap that faded
AENT opened up 32% after news, then faded below its open by the close.
News via Stock News API
What happened
Before the open
The news came first: news at 2:47 a.m. Before the bell it reached $31.55, on 3M shares.
The open
It opened up 32%, at $7.29.
The close
It closed at $6.43, 80% 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 32.3% to $7.29 at the open and traded below the open by 4:00 p.m., at $6.43.
| Time (ET) | What happened |
|---|---|
| Sep 10, 4:05 p.m. | News (GlobeNewsWire): Alliance Entertainment Reports Fiscal 2026 Revenue Up 8% to $1.15 Billion; Gross Margin Expands 80 Basis Points to 13.3% |
| Sep 10, 6:03 p.m. | News (MarketBeat): Alliance Entertainment Q4 Earnings Call Highlights |
| 2:47 a.m. | News (Seeking Alpha): Alliance Entertainment Holding Corporation (AENT) Q4 2026 Earnings Call Transcript |
| 4:08 a.m. | First trade 20% above the previous close of $5.51 |
| 4:10 a.m. | Pre-market high, $31.55 |
| 4:10 a.m. | High of the day to the close, $31.55 |
| 9:30 a.m. | The open: $7.29, up 32.3% from the previous close |
| 10:04 a.m. | Volume since 4:00 a.m. passes the whole float, 3.35 million shares |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $6.43, 79.6% 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
- $5.51
- Open, 9:30 a.m.
- $7.29
- Gap at the open
- +32.3%
- Pre-market high
- $31.55 at 4:10 a.m.
- High, 4 a.m. to 4 p.m.
- $31.55 at 4:10 a.m.
- Low, 4 a.m. to 4 p.m.
- $6.15
- Close, 4 p.m.
- $6.43
- Change at 4 p.m.
- +16.7%
- After-hours high, 4 p.m. to 8 p.m.
- $6.49 at 4:00 p.m.
- Volume, 4 a.m. to 4 p.m.
- 4.18 million
- Volume after hours, 4 p.m. to 8 p.m.
- 68,474
- Relative volume by 8 p.m.
- 420.7×
- Float
- 3.35 million shares, from filings as of September 11, 2026
- Shares outstanding
- 110.98 million
- From news to the move: the first trade 20% above the previous close came 1 hour 20 minutes after the latest news item before it (Seeking Alpha, 2:47 a.m.).
- Volume, from the one-minute bars: 2.98 million shares before the 9:30 a.m. open (70%), 339,566 in the first 30 minutes (8%), and 929,706 in the rest of the day to 8 p.m. (22%).
- Float rotation, the volume since 4 a.m. against the float of 3.35 million shares: past it once at 10:04 a.m.
- In our recaps, this is the only day AENT 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 AENT 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 AENT on September 11, 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.