Hindsight Markets Recaps Small-cap stocks on September 28, 2026
PMAX, September 28: an 8:30 headline, a fast spike, and bid walls
PMAX spiked to $2.79 before the open after news, then gave much of it back in the session.
News via Stock News API
What happened
Draft for review. Not published.
The 8:30 headline
A deal headline woke up a quiet stock. At 8:30 a.m., PMAX said it bought a stake in Remington's parent. That minute ran from $1.76 to $2.45.
Stop It's 8:31. PMAX is at $2.26. At 8:29 it was $1.75, and the previous close was $1.62. The headline came out at 8:30. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:28 a.m. and stop at 8:31 a.m. ET for your call.
It kept going. That minute hit $2.79, the day's high, up 72% from the previous close.
The $1.82 wall
The next push stopped lower, at $2.55 by 8:41. Then a bid wall built at $1.82. It peaked near 30K shares at 8:45:10.
Stop It's 8:46. PMAX is at $2.01, well under the $2.79 high. A bid wall that reached nearly 29,800 shares at 8:45 sits at $1.82, just below. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:43 a.m. and stop at 8:46 a.m. ET for your call.
Sellers ate the wall. From 8:47:22, 28K shares traded at $1.82 in 4.4 seconds, and the wall was gone. Nobody pulled it.
The fade
The open brought no new push. It opened at $1.77 and broke down at 9:35. It closed at $1.23, below the prior close.
What to take from it: A big bid wall is a price level, not a floor; this one broke in seconds.
Replay PMAX's day
It starts at 8:14 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 8:17 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
Pre-market spike. Before the open it spiked 72.2% from $1.62 to $2.79 at 8:31 a.m.. It opened up 9.0% at $1.76 and traded at $1.23 at 4:00 p.m.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 8:30 a.m. | News (GlobeNewsWire): Powell Max Limited Acquires Stake in Parent Company of the Iconic Remington Firearms Brand | |
| 8:30 a.m. | First trade 20% above the previous close of $1.62 | |
| 8:31 a.m. | Pre-market high, $2.79 | |
| 8:31 a.m. | High of the day to the close, $2.79 | |
| 8:32 a.m. | Volume since 4:00 a.m. passes the whole float, 1.31 million shares | |
| 9:30 a.m. | The open: $1.76, up 9.0% from the previous close | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $1.23, 55.9% 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
- $1.62
- Open, 9:30 a.m.
- $1.76
- Gap at the open
- +9.0%
- Pre-market high
- $2.79 at 8:31 a.m.
- High, 4 a.m. to 4 p.m.
- $2.79 at 8:31 a.m.
- Low, 4 a.m. to 4 p.m.
- $1.21
- Close, 4 p.m.
- $1.23
- Change at 4 p.m.
- −24.1%
- After-hours high, 4 p.m. to 8 p.m.
- $1.40 at 5:34 p.m.
- Volume, 4 a.m. to 4 p.m.
- 7.79 million
- Volume after hours, 4 p.m. to 8 p.m.
- 188,950
- Relative volume by 8 p.m.
- 6.2×
- Float
- 1.31 million shares, from filings as of September 28, 2026
- Shares outstanding
- 1.96 million
- From news to the move: the first trade 20% above the previous close came less than a minute after the latest news item before it (GlobeNewsWire, 8:30 a.m.).
- Volume, from the one-minute bars: 6.41 million shares before the 9:30 a.m. open (80%), 684,390 in the first 30 minutes (9%), and 886,263 in the rest of the day to 8 p.m. (11%).
- Float rotation, the volume since 4 a.m. against the float of 1.31 million shares: past it once at 8:32 a.m., twice at 8:34 a.m., three times at 8:40 a.m.
- Other days PMAX met the small-cap rule in our recaps: 3, the latest on November 4, 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 (none)
The exchange's halt feed shows no halts for PMAX 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 PMAX on September 28, 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.