Intercont surges 25.74% premarket as 25-for-1 reverse split approved to regain Nasdaq compliance.

Intercont (Cayman) Limited's stock surged 25.74% in premarket trading following the company’s announcement of a 25-for-1 reverse share split, effective April 2, 2026, to regain compliance with Nasdaq’s minimum $1.00 bid price requirement. The move, approved by shareholders and the board, will reduce the number of authorized shares from 1 billion to 40 million and adjust the par value to $0.0025 per share. The consolidation aims to stabilize the stock price and improve its market standing, with shares set to trade under the same “NCT” symbol but with a new CUSIP number. The action reflects the company’s efforts to address regulatory concerns and restore investor confidence.