Innovation Beverage shares surge 19.2% intraday after announcing potential merger with BlockFuel Energy.

Innovation Beverage Group surged 19.20% intraday after announcing a letter of intent for a potential merger with BlockFuel Energy, Inc., disclosed 1 hour prior. The merger, first reported by GlobeNewswire, triggered immediate investor enthusiasm, evidenced by a trading halt due to LULD price volatility safeguards. While a concurrent reverse stock split was announced 5 hours earlier, the merger news directly aligned with the sharp price increase, reflecting optimism over strategic expansion and potential synergies. Other recent updates, including distribution agreements and product awards, lacked the immediacy or magnitude to drive such a pronounced intraday move.