Hindsight Markets Recaps Small-cap stocks on October 19, 2026
SLN, October 19: a DEFA14A, one halt, and a gap that held
SLN more than doubled at the open after a DEFA14A and held near that level into the close.
News via Stock News API
What happened
Before the open
The news came first: a DEFA14A at 8:13 a.m. Before the bell it reached $19.66, on 17M shares.
The open
It more than doubled at the open, at $19.59.
The halts
Trading stopped once, at 7:55 a.m. The biggest jump was the reopen after 7:55 a.m.: 115% above the last trade before it.
The close
It closed at $19.57, 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 125.6% to $19.59 at the open and held near or above it, trading at $19.57 at 4:00 p.m.
| Time (ET) | What happened |
|---|---|
| 8:00 a.m. | News (Business Wire): Merck KGaA, Darmstadt, Germany to Acquire Silence Therapeutics, Strengthening Rare Disease Pipeline with Innovative siRNA Asset |
| 8:05 a.m. | SEC filing 8-K: 8-K |
| 8:13 a.m. | SEC filing DEFA14A: DEFA14A |
| 8:45 a.m. | First trade 20% above the previous close of $8.68 |
| 8:46 a.m. | Pre-market high, $19.66 |
| 8:46 a.m. | High of the day to the close, $19.66 |
| 9:30 a.m. | The open: $19.59, up 125.6% from the previous close |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $19.57, 0.5% 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
- $8.68
- Open, 9:30 a.m.
- $19.59
- Gap at the open
- +125.6%
- Pre-market high
- $19.66 at 8:46 a.m.
- High, 4 a.m. to 4 p.m.
- $19.66 at 8:46 a.m.
- Low, 4 a.m. to 4 p.m.
- $8.81
- Close, 4 p.m.
- $19.57
- Change at 4 p.m.
- +125.5%
- After-hours high, 4 p.m. to 8 p.m.
- $19.60 at 4:55 p.m.
- Volume, 4 a.m. to 4 p.m.
- 35.42 million
- Volume after hours, 4 p.m. to 8 p.m.
- 264,521
- Relative volume by 8 p.m.
- 63.5×
- Float
- 53.97 million shares, from filings as of October 19, 2026
- Shares outstanding
- 60.21 million
- From news to the move: the first trade 20% above the previous close came 31 minutes after the latest SEC filing before it (DEFA14A, 8:13 a.m.).
- Volume, from the one-minute bars: 17.31 million shares before the 9:30 a.m. open (49%), 6.18 million in the first 30 minutes (17%), and 12.20 million in the rest of the day to 8 p.m. (34%).
- Other days SLN met the small-cap rule in our recaps: 1, the latest on August 10, 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 (1)
| Halted | Resumed | Length | The 5 minutes into it | Reopened at, against the last trade | The 5 minutes after | Reason in the feed |
|---|---|---|---|---|---|---|
| 7:55 a.m. | 8:45 a.m. | 50 min 1 s | up 1.0% | $19.55, up 114.8% | up 0.4% | News pending |
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 SLN on October 19, 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.