New York, May 28, 2026, 06:03 EDT
- Hoth Therapeutics is rebranding as Rocket One Inc., with the company set to start trading under the new Nasdaq ticker RKTO on Thursday.
- HOTH was indicated around $2.00 before the open. The stock closed Wednesday at $1.36.
- The company is shifting from biotech to AI chip tech for space, though its own filings call out the early stage of its technology, need for capital, and going-concern risk.
Shares of Rocket One Inc., which just changed its name from Hoth Therapeutics, shot higher in pre-market trading Thursday. Traders reacted after the company’s new Nasdaq ticker and its push into AI gear for space came into view.
Shares changed hands at $1.999 as of 06:03 ET, jumping 46.97% from the previous $1.36 close. The old HOTH shares climbed 92.09% in the last session, according to market data. Regular Nasdaq trading opens at 9:30 a.m. Eastern; the switch to ticker RKTO is set for Thursday’s start.
Hoth changed its name to Rocket One, finishing the legal switch on May 26. The company said Wednesday HOTH will stop trading under its old ticker after the close on May 27. The rebrand is more than a name change, giving the small-cap a new angle around satellites, defense systems and orbital computing.
Rocket One is turning to what it calls “the orbital economy,” a catchall for satellite-related business, launch operations, space infrastructure, and space-based computing. At the same time, the company says its legacy biotech pipeline—including HT-001, HT-KIT, HT-ALZ, and a GDNF metabolic program—will keep running under a wholly owned unit. PR Newswire
Rocket One’s pitch centers on its exclusive rights for nanomagnetic AI chips. The company claims these chips tap nanoscale magnetism instead of just moving electrical charge in silicon, aiming to handle AI workloads at lower power. Rocket One also says the tech is built for radiation-tolerant computing, targeting hardware challenges in space.
Chief Executive Robb Knie said in the company’s release that “Space is moving from a launch story to a compute story.” Knie said the rebrand shows where the company wants to be, and called the RKTO ticker a signal for investors, partners, and customers that the orbital economy is the new focus. PR Newswire
Knie said much the same last week after Hoth first talked about moving forward, arguing AI infrastructure was hitting limits on energy and efficiency. “Rocket One is being built to position the Company to participate in the future of AI infrastructure,” he said at the time. PR Newswire
Space is crowded and funding levels are higher. Rocket Lab pitches itself as an end-to-end operator, from launch to spacecraft design and satellite parts. Intuitive Machines calls itself a space infrastructure and services provider. AST SpaceMobile is creating a space-based cellular broadband network. Rocket One is moving into public space stocks without a confirmed commercial space product so far.
Rocket One filed an amended prospectus on Wednesday to register as much as $2.66 million more in common stock for sale through an at-the-market program. That program allows the company to sell shares through the open market gradually. According to the filing, Rocket One has already moved 6.82 million shares, pulling in roughly $6.6 million under the agreement. Rocket One’s shares trade under the ticker RKTO.
That supply sits on the risk side too. Hoth in its latest quarterly report for the period ended March 31 posted no revenue and a net loss of about $2.7 million. Cash and equivalents were about $4.0 million with an accumulated deficit near $75.6 million. The company warned its available cash can’t cover operating costs and capital needs for at least the next 12 months, casting doubt on its ability to stay afloat as a going concern.
Another issue is hanging over Hoth. Nasdaq told the company on April 30 it fell short of the exchange’s $1 minimum bid-price listing standard. That notification didn’t immediately affect trading or the listing itself. Hoth has until Oct. 27, 2026, to fix it. Normally, the company would need to close at or above $1 for at least 10 business days in a row to get back in compliance.
RKTO traders are trading on the name switch and the new space-AI label for now. Next comes the market open, when the real test hits: can RKTO keep its gains, bring in new money without slicing up shareholders, and prove it’s more than just an ex-biotech trying its luck in chips and orbital computing?
