Hindsight Markets Recaps Small-cap stocks on September 14, 2026
ARMP, September 14: news and a gap that faded
ARMP opened up 15% 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 7:00 a.m. Before the bell it reached $7.00, on 1M shares.
The open
It opened up 15%, at $6.17.
The close
It closed at $5.64, 19% 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 14.7% to $6.17 at the open and traded below the open by 4:00 p.m., at $5.64.
| Time (ET) | What happened |
|---|---|
| 7:00 a.m. | News (PRNewsWire): Armata Pharmaceuticals Receives U.S. FDA Breakthrough Therapy Designation for AP-SA02 |
| 7:11 a.m. | First trade 20% above the previous close of $5.38 |
| 7:58 a.m. | Pre-market high, $7.00 |
| 7:58 a.m. | High of the day to the close, $7.00 |
| 9:30 a.m. | The open: $6.17, up 14.7% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $5.64, 19.4% 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
- $5.38
- Open, 9:30 a.m.
- $6.17
- Gap at the open
- +14.7%
- Pre-market high
- $7.00 at 7:58 a.m.
- High, 4 a.m. to 4 p.m.
- $7.00 at 7:58 a.m.
- Low, 4 a.m. to 4 p.m.
- $4.72
- Close, 4 p.m.
- $5.64
- Change at 4 p.m.
- +4.8%
- After-hours high, 4 p.m. to 8 p.m.
- $5.61 at 7:48 p.m.
- Volume, 4 a.m. to 4 p.m.
- 2.37 million
- Volume after hours, 4 p.m. to 8 p.m.
- 90,294
- Relative volume by 8 p.m.
- 44.1×
- Float
- 12.04 million shares, from filings as of September 14, 2026
- Shares outstanding
- 37.18 million
- From news to the move: the first trade 20% above the previous close came 11 minutes after the latest news item before it (PRNewsWire, 7:00 a.m.).
- Volume, from the one-minute bars: 1.04 million shares before the 9:30 a.m. open (42%), 256,316 in the first 30 minutes (10%), and 1.16 million in the rest of the day to 8 p.m. (47%).
- In our recaps, this is the only day ARMP met the small-cap rule.
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 ARMP 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 ARMP on September 14, 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.