Intercont shares surge 62.80% premarket following announcement of 25-for-1 reverse stock split to regain Nasdaq compliance.

Intercont surged 62.80% in premarket trading following the announcement of a 25-for-1 reverse share split, effective April 2, 2026, to regain compliance with Nasdaq’s $1.00 minimum bid price requirement. The move, approved by shareholders and the board, consolidates 1 billion authorized shares to 40 million, with no action required from shareholders. The adjustment aims to stabilize the stock price and enhance market credibility, signaling a strategic effort to maintain Nasdaq listing and improve share structure. The significant premarket rise suggests strong investor reaction to the compliance action and the company’s proactive approach to its financial governance.