Hindsight Markets Recaps Small-cap stocks on September 25, 2026
MSGY, September 25: three halts, a $5.95 bid, and $11.42
MSGY opened near its previous close, then ran to $11.42 through three halts during the session.
What happened
Draft for review. Not published.
A quiet stock wakes up
MSGY was a tiny, quiet stock. It closed the day before at $2.04, with a float of only 807K shares. It opened at $2.13 and ran to $3.34 by 10:04. Two halts then shook it between $2.00 and $3.07.
The $5.04 wall
By 11:03 it had climbed to $4.47. Overhead, a sell wall of 50K shares sat at $5.04, about 6% of the float.
Stop It's 11:04. MSGY is at $4.46. A 50,000-share ask wall appeared at $5.04 about three minutes ago. 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.
The wall was pulled at 11:04:33, and the stock ran straight through $5.04. Two minutes later it hit $5.95.
A halt, then $9.52
This halt was the day's big jump. At 11:06:56 it froze at $5.95, with a 62K-share bid at that price. It reopened at 12:02:17 at $9.52, 60% higher. It ran to $11.42 that minute.
The fade
The $5.95 bid was pulled at 12:10:42. The next minute the stock slid to $7.68. It closed the session at $8.10. After hours it spiked to $12.68 at 5:04 p.m., then fell to $5.00 by 7:19 p.m.
What to take from it: On MSGY, the big wall and bid were pulled before price moved through them, so they never held it.
Replay MSGY's day
It starts at 10:50 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 10:53 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
Intraday run. It opened up 4.4% at $2.13, then ran from the open to the high of $11.42 in 152 minutes through 3 halts.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 7:31 a.m. | Pre-market high, $2.16 | |
| 9:30 a.m. | The open: $2.13, up 4.4% from the previous close | |
| 9:35 a.m. | First trade 20% above the previous close of $2.04 | |
| 10:12 a.m. | Volume since 4:00 a.m. passes the whole float, 807,125 shares | |
| 12:02 p.m. | High of the day to the close, $11.42 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $8.10, 29.1% 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
- $2.04
- Open, 9:30 a.m.
- $2.13
- Gap at the open
- +4.4%
- Pre-market high
- $2.16 at 7:31 a.m.
- High, 4 a.m. to 4 p.m.
- $11.42 at 12:02 p.m.
- Low, 4 a.m. to 4 p.m.
- $1.97
- Close, 4 p.m.
- $8.10
- Change at 4 p.m.
- +297.1%
- After-hours high, 4 p.m. to 8 p.m.
- $12.68 at 5:04 p.m.
- Volume, 4 a.m. to 4 p.m.
- 18.74 million
- Volume after hours, 4 p.m. to 8 p.m.
- 3.70 million
- Relative volume by 8 p.m.
- 1329.3×
- Float
- 807,125 shares, from filings as of September 25, 2026
- Shares outstanding
- 2.12 million
- Volume, from the one-minute bars: 2,249 shares before the 9:30 a.m. open (0%), 171,536 in the first 30 minutes (1%), and 22.26 million in the rest of the day to 8 p.m. (99%).
- Float rotation, the volume since 4 a.m. against the float of 807,125 shares: past it once at 10:12 a.m., twice at 10:27 a.m., three times at 10:39 a.m.
- Other days MSGY met the small-cap rule in our recaps: 3, the latest on September 30, 2026.
On the day's lists: the gainers, intraday runners. It is here because it met the small-cap rule on the gainers: 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 (3)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed | Watch it |
|---|---|---|---|---|---|---|---|
| 10:05 a.m. | 10:10 a.m. | 5 min 0 s | down 11.8% | $2.47, up 3.3% | down 8.5% | LULD pause (limit up-limit down) | |
| 10:20 a.m. | 10:25 a.m. | 5 min 0 s | up 37.1% | $2.88, down 6.2% | down 9.7% | LULD pause (limit up-limit down) | |
| 11:06 a.m. | 12:02 p.m. | 55 min 21 s | up 39.7% | $9.52, up 60.0% | up 0.3% | 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 MSGY on September 25, 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.