Intercont (Cayman) Ltd. (NASDAQ:NCT) shares jumped 55.87% to $4.600 in pre-market trading on Thursday.
The rally in the pre-open session follows Wednesday’s intraday gain of 1.02%, closing the stock of the Hong Kong-based global maritime shipping and investment holding company at $2.98, according to Benzinga Pro data.
What You Should Know
No fundamental reason behind the stock move could be identified at the time of writing.
NCT’s short interest surged to 80.3% of its float, according to data reported on Tuesday, up sharply from just 0.39% in the prior reporting period, signaling a buildup of bearish bets.
