Rocket One
RKTO on Nasdaq. Market value $18m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 21 funds in all.
Largest holders overall
- Vanguard Capital Management$683,291Added
- Jane Street Group$219,316New
- UBS Group AG$211,304Added
- Geode Capital Management$195,982Cut
- Vanguard Fiduciary Trust$84,318
- State Street$63,939
- LPL Financial$41,029New
- Northern Trust$38,724Cut
- Susquehanna International Group, LLP$25,966New
- Lido Advisors$19,500Cut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
2 serious warning signs in Rocket One’s filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Mar 2026, plus the 10-Q filed 14 Aug 2026 and 16 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“These matters raise substantial doubt about the Company’s ability to continue as a going concern.”
Show the full paragraph
Substantial Doubt About the Company’s Ability to Continue as a Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has suffered recurring losses and negative cash flows from operations since inception and expects to continue incurring losses and negative cash flows in the future. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
From the 10-K filed 27 March 2026, Item 8. Financial Statements and Notes - Independent auditor's report. Read it in the filing
Its past accounts can't be relied on
SeriousIt told the SEC its earlier accounts should no longer be relied on, usually because they contained errors.
8-K Item 4.02 filed 25 Mar 2025: the company said its earlier financial statements should no longer be relied on.
From an 8-K filed 25 March 2025: Previously issued accounts should no longer be relied on. Open the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.