RKTO is trading 7.7% down today at $2.05 after the company disclosed it was increasing its potential stock sales, and separately announced a new advisory board member.
- The company increased the maximum amount of common stock it can sell under its at-the-market (ATM) agreement by an additional $6,829,000. This news raises concerns about potential shareholder dilution, likely contributing to the stock's decline after a recent speculative rally.
- Separately, Rocket One announced the appointment of retired U.S. Army Major General Malcolm B. Frost to its Space and Defense Advisory Board to help guide its new strategic focus.
- The stock recently surged following its rebranding from Hoth Therapeutics and its pivot to AI and space-computing technologies.