Hoth Therapeutics Rebrands as Rocket One, Shares Rally 80% on Space Tech Pivot
HOTH•Hoth Therapeutics announced its rebrand as Rocket One and will begin trading under new ticker RKTO from May 28, shifting focus to AI, next-generation semiconductors and orbital economy applications. Shares jumped 80%, surpassing their 200-day moving average, after securing exclusive rights to nanomagnetic AI chip technology for ultra-low-power, high-radiation environments.
1. Rebrand to Rocket One and New Ticker
Hoth Therapeutics announced its rebrand to Rocket One and will begin trading under the Nasdaq ticker RKTO from May 28, reflecting its shift from biotechnology toward AI, next-generation semiconductors and space technology ventures.
2. Share Price Reaction
Shares rallied 80% in one session, pushing above the 200-day moving average for the first time in over two months as investors reacted to the company's strategic overhaul and growth potential in the orbital economy.
3. Exclusive Nanomagnetic AI Chip Rights
The company secured exclusive rights to nanomagnetic AI chip technology designed for ultra-low-power consumption, offline data retention and high-radiation environments, positioning Rocket One to supply hardware for satellites, defense systems and other space-based platforms.
4. Legacy Biotech Subsidiary Continuation
Hoth's legacy biotechnology programs will continue operating under a wholly owned subsidiary, ensuring ongoing development of existing pipelines while Rocket One focuses on commercializing its space and AI hardware portfolio.
