Hindsight Markets Recaps Small-cap stocks on September 30, 2026
VBIO, September 30: a 7:45 headline, the $3.54 wall, and $4.38
VBIO opened up 42% after news, then faded below its open by the close.
News via Stock News API
What happened
Draft for review. Not published.
News at 7:45
A 7:45 a.m. headline about a new oral formula hit a tiny 763K-share float. More shares than the whole float traded by 7:50. It ran to $4.20 by 8:10, then fell to $3.25.
The $3.54 wall
From 8:26, sellers stacked a 66K-share wall at $3.54, just above the price.
Stop It's 8:29. VBIO is at $3.49. A large block of shares is offered at exactly $3.54, just above. Would you buy here?
Press play: the real Level 2, tape and chart run from 8:26 a.m. and stop at 8:29 a.m. ET for your call.
Buyers ate it. 71K shares traded at $3.54 in 9 seconds, and the wall was gone at 8:29:35.
The open
Before the bell it reached $4.23, still under a $4.50 ask wall.
Stop It's 9:30. VBIO opens at $4.01, up 42% from the $2.83 close. The pre-market high was $4.23, and a large ask wall sits at $4.50. Would you buy here?
Press play: the real Level 2, tape and chart run from 9:27 a.m. and stop at 9:30 a.m. ET for your call.
The first minute was the day's busiest. It hit $4.38 at 9:31, the high, and was at $3.47 by 9:42. It sank to $2.53 that afternoon and closed at $2.79.
What to take from it: The $3.54 wall broke in seconds, but the gains were gone by the close.
Replay VBIO's day
It starts at 7:43 a.m. ET with the real Level 2, time and sales and chart, from the same feed the replay plays, stops at 7:46 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
Gap and fade. It gapped up 41.7% to $4.01 at the open and traded below the open by 4:00 p.m., at $2.79.
| Time (ET) | What happened | Watch it |
|---|---|---|
| 7:45 a.m. | News (Accesswire): Valion Bio and Shear Kershman Laboratories Successfully Formulate Oral Mucosal Entolimod; Valion Sees Potential for Multi-Fold Expansion of Long-Term Opportunity | |
| 7:47 a.m. | First trade 20% above the previous close of $2.83 | |
| 7:50 a.m. | Volume since 4:00 a.m. passes the whole float, 763,037 shares | |
| 9:10 a.m. | Pre-market high, $4.23 | |
| 9:30 a.m. | The open: $4.01, up 41.7% from the previous close | |
| 9:31 a.m. | High of the day to the close, $4.38 | |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $2.79, 36.4% 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
- $2.83
- Open, 9:30 a.m.
- $4.01
- Gap at the open
- +41.7%
- Pre-market high
- $4.23 at 9:10 a.m.
- High, 4 a.m. to 4 p.m.
- $4.38 at 9:31 a.m.
- Low, 4 a.m. to 4 p.m.
- $2.53
- Close, 4 p.m.
- $2.79
- Change at 4 p.m.
- −1.6%
- After-hours high, 4 p.m. to 8 p.m.
- $3.00 at 5:30 p.m.
- Volume, 4 a.m. to 4 p.m.
- 21.60 million
- Volume after hours, 4 p.m. to 8 p.m.
- 155,060
- Relative volume by 8 p.m.
- 65.2×
- Float
- 763,037 shares, from filings as of September 30, 2026
- Shares outstanding
- 887,590
- From news to the move: the first trade 20% above the previous close came 2 minutes after the latest news item before it (Accesswire, 7:45 a.m.).
- Volume, from the one-minute bars: 13.96 million shares before the 9:30 a.m. open (64%), 4.71 million in the first 30 minutes (22%), and 3.09 million in the rest of the day to 8 p.m. (14%).
- Float rotation, the volume since 4 a.m. against the float of 763,037 shares: past it once at 7:50 a.m., twice at 7:52 a.m., three times at 7:55 a.m.
- Other days VBIO met the small-cap rule in our recaps: 5, the latest on October 26, 2026.
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 VBIO 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 VBIO on September 30, 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.