I just did some research. Small market cap stock, opening gap 20% above, pre market 500k volume, from 1/1/2020 to date, sample size ard 750, 75% will close below opening price and 86% close below pre market HOD, the devil is in the detail if you just use such stats to short.
Of those that extended, meaning it goes above pre market HOD during market hours, only 25% will close below opening price. So when you short extended stocks don’t look for home run going below opening price.
The amount of stocks that gap and crap (at open does not go above pre market HOD) and gap and extend (stocks that goes above pre market HOD) it’s around 60/40. So there are almost near equal amount of stocks that will go above pre market HOD.

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