Hindsight Markets Recaps Small-cap stocks on September 25, 2026
STEM, September 25: a gap that held
STEM opened up 14% and held near that level into the close.
What happened
Before the open
We found no news or filing before the move. Before the bell it reached $4.47, on 63K shares.
The open
It opened up 14%, at $4.44.
The close
It closed at $4.47, near its high.
What to take from it: The gap was the move. After the open it went sideways.
The details
How it traded, step by step
Gap and hold. It gapped up 13.8% to $4.44 at the open and held near or above it, trading at $4.47 at 4:00 p.m.
| Time (ET) | What happened |
|---|---|
| 7:42 a.m. | Pre-market high, $4.47 |
| 9:30 a.m. | The open: $4.44, up 13.8% from the previous close |
| 2:56 p.m. | High of the day to the close, $4.66 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $4.47, 4.1% below the high |
| 6:44 p.m. | First trade 20% above the previous close of $3.90 |
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
- $3.90
- Open, 9:30 a.m.
- $4.44
- Gap at the open
- +13.8%
- Pre-market high
- $4.47 at 7:42 a.m.
- High, 4 a.m. to 4 p.m.
- $4.66 at 2:56 p.m.
- Low, 4 a.m. to 4 p.m.
- $3.96
- Close, 4 p.m.
- $4.47
- Change at 4 p.m.
- +14.6%
- After-hours high, 4 p.m. to 8 p.m.
- $4.69 at 7:58 p.m.
- Volume, 4 a.m. to 4 p.m.
- 358,514
- Volume after hours, 4 p.m. to 8 p.m.
- 15,106
- Relative volume by 8 p.m.
- 5.6×
- Float
- 9.15 million shares, from filings as of September 25, 2026
- Shares outstanding
- 9.63 million
- Volume, from the one-minute bars: 63,326 shares before the 9:30 a.m. open (17%), 49,689 in the first 30 minutes (13%), and 260,605 in the rest of the day to 8 p.m. (70%).
- Other days STEM met the small-cap rule in our recaps: 1, the latest on November 4, 2026.
On the day's lists: the gainers. 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 (none)
The exchange's halt feed shows no halts for STEM 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 STEM 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.