NEW YORK, June 2, 2026, 17:05 (EDT)
- RKTO ended the day at $2.22, jumping around 65.7% as trading volume spiked.
- Dr. Supriyo Bandyopadhyay is now named lead technical adviser for nanomagnetic AI technology, according to the latest company filing.
- Filings show the company has early-stage tech, needs cash, and doesn’t have a commercial product.
Rocket One Inc. jumped $0.88 to close at $2.22 on Tuesday. The stock, traded on Nasdaq, saw volume hit around 37.7 million shares. Rocket One recently changed its name and shifted focus from biotech to artificial intelligence and space computing, which set off a fresh round of buying. Shares reached an intraday top of $2.43, market data show.
Rocket One named Dr. Supriyo Bandyopadhyay as Lead Technical Advisor of AI Nanomagnetic Technology, according to a June 2 filing. He’ll steer the nanomagnetic AI chip project, the filing said. Nanomagnetic technology uses magnetic effects at tiny scales for computing.
Rocket One is just a few days into trading under its new name and ticker. The company, which used to be called Hoth Therapeutics, made its legal switch on May 26 and started trading as RKTO on the Nasdaq Capital Market on May 28, according to an earlier SEC filing.
Rocket One is shifting focus to the “orbital economy,” covering satellite, LEO infrastructure and defense contracts, the company said. Legacy biotech projects will stay under a separate subsidiary, according to the company’s May 27 SEC filing.
Rocket One’s Chief Executive Robb Knie says in the latest exhibit that Bandyopadhyay’s role brings the company a “credible technical foundation” for flight and high-radiation work. Bandyopadhyay, who is a Commonwealth Professor at Virginia Commonwealth University, said the company was after a “real-world application” for computing with low power and radiation constraints.
Wall Street closed a bit higher Tuesday, with gains in AI infrastructure stocks outweighing geopolitical worries. The Nasdaq Composite rose 0.03%. The Philadelphia SE Semiconductor Index climbed 5.9%, according to Reuters.
Rocket One surged past bigger moves in other space stocks. Rocket Lab USA added 0.75% to $123.32, and Intuitive Machines was up 3.53% to $39.57, market data showed.
The rally in the stock comes as the company’s operations remain slim. In its most recent quarter as Hoth Therapeutics, it reported a net loss of around $2.69 million for the three months ended March 31, with no commercial products or product revenue yet.
Shares jumped last week after the rebrand, Reuters said. Todd Schoenberger, chief investment officer at CrossCheck Management, told investors to “look behind the curtain” when small firms start pitching themselves as AI plays or move toward other popular sectors. Reuters
Rocket One lays out the risk bluntly. Its SEC filing says the licensed technologies are early-stage, unproven as integrated devices, untested in space and not qualified for any commercial or government use. The company also says it needs a lot more capital.
Capital remains a big issue. The March-quarter filing showed Rocket One with about $4.0 million in cash and cash equivalents as of March 31, after using roughly $3.05 million for operating cash in the quarter. The filing flagged “substantial doubt” about Rocket One’s ability to keep going as a business, saying it may not have enough resources to operate over the next year, a standard accounting red flag. Stock Titan
RKTO trades like a jumpy microcap right now, more AI and space buzz than a steady semiconductor play. Rocket One still has to show it can take new advisers, licenses, and developer-program seats and actually get paying engineering contracts, then turn that into hardware that appeals to investors.
