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Small-Caps Soar: FTEL, IBG and DVLT Lead 30–120% Momentum Rally

NYSE | NASDAQ
September 23, 2025 | 9:00pm

Daily Market Recap for 2025-09-23

On September 23, 2025, small-cap technology, biotech, and e-commerce names dominated trading, posting broad‐based gains. A slew of momentum plays rallied between 30% and 120% on heavy volume, reflecting renewed risk appetite among speculators. Below is a snapshot of today's notable performers, followed by an overview of prevailing market trends and standout price and volume action.

Top Movers Table

TickerATTN PriceCurrent PriceVolumePrice Change %
IBG0.36980.7350111,706,14098.69%
SLE5.56508.478837,828,89652.40%
SILO0.60330.781220,404,02129.52%
JZXN1.10491.56006,711,16741.18%
GLTO3.27944.320020,834,81431.76%
SSKN1.87802.560041,958,28236.32%
IPDN3.55164.690019,057,26632.03%
ORIS0.21280.3016146,537,65441.82%
FTEL3.52287.81001,877,573121.77%
SLNH1.80812.429753,667,73534.39%
BOXL2.19712.86003,188,42730.18%
WCT0.28000.37324,276,63333.28%
DVLT0.36590.6900340,048,02388.60%
NXXT1.54532.04005,805,94232.04%
BKKT14.822717.59004,680,10718.71%
ANGX3.78625.01001,172,22332.25%
ADVM2.75074.03005,701,65546.61%
CTW1.80872.37001,533,42831.05%
SAVA2.44053.524232,837,04044.38%
Small-cap gains

Small-cap gains by Yang Deng

Market Trends and Patterns

Trading activity was skewed toward high-beta, micro-cap names, where average gains approached 45%. More than half of the tabled stocks vaulted over 30%, with FTEL (+121.8%), IBG (+98.7%) and DVLT (+88.6%) leading the advance. Volume surges were notable in DVLT (340 million shares), ORIS (146 million), and IBG (112 million), suggesting heavy speculative interest in sub-$1 plays. Mid-cap tickers such as SLE and ADVM outperformed on reported pipeline updates and strategic partnerships.

Volatility remained elevated, with intraday trading ranges exceeding 20% for most names. The breadth of gains across disparate sectors—from fitness e-commerce (FTEL) to data security (DVLT) and genomics (ADVM)—points to a market environment driven more by momentum than sector rotation. While large-cap indices traded flat to modestly higher, small-caps captured the spotlight amid aggressive positioning ahead of end-month rebalances and potential catalyst announcements.

Highlighted Movers and Volume Surges

  • FTEL (Fitell Corp.) surged 121.8% after completing a reverse split and securing a convertible note facility, driving a short-squeeze at the open.
  • IBG nearly doubled on reports of a distribution partnership in Asia, trading 112 million shares—well above its 30-day average.
  • DVLT jumped 88.6% on a Form S-3 effectiveness and a new military blockchain agreement, logging a massive 340 million-share volume day.
  • ORIS climbed 41.8% with 146 million shares changing hands, reflecting renewed interest in sub-$0.50 speculative biotech plays.
  • ADVM added 46.6% ahead of a mid-trial data readout, reinforcing the biotech rally that powered small caps higher.

TL;DR

  • Small-cap tech, biotech, and e-commerce names rallied 30%–120% on heavy volume.
  • FTEL led with a 121.8% gain; IBG and DVLT also posted near-triple-digit moves.
  • Volume spikes noted in DVLT (340M), ORIS (146M), IBG (112M), and SSKN (42M).
  • Market action driven by momentum, speculative positioning, and company-specific catalysts.
  • Large-cap indices remained muted while micro-caps stole the show.
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