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- RocketBoots (ROC) clarifies the significance of its recent admission into various partner networks with Amazon Web Services (AWS) and NVIDIA following a share price surge
- The company requested a trading halt on Tuesday after the release of its NVIDIA partnership announcement and a subsequent 107-per-cent share price increase
- RocketBoots today stresses that it is not anticipating any immediate increase in revenue as a result of its involvement with the various partner networks
- Rather, the company says the benefits of the partnerships will come from an increase in awareness of its brands and a significant scale-up of its activities
- Shares in RocketBoots are down 32.4 per cent, trading at 11.5 cents at 1:06 pm AEST
RocketBoots (ROC) has clarified the significance of its recent admission into the Amazon Web Services (AWS) partner network and NVIDIA’s Metropolis partner program following a share price surge.
The company requested a trading halt on Tuesday after the release of its NVIDIA partnership announcement, claiming the pause in trading was necessary for “managing its continuous disclosure obligations”.
The trading halt followed a 107 per cent surge in ROC’s share price and a subsequent pause in the trading of the company’s shares by the ASX.
The company stressed today, seemingly at the behest of the market operator, that it was not anticipating any immediate increase in revenue as a result of its involvement with the various partner networks and was firm that any potential financial effect was “too soon” to quantify.
Instead, the company pointed to the significance of the growing awareness and exposure its flagship Beehive solution would receive as a result of its entry into both partnership programs.
Thus, these partnerships are still seen as an important milestone to the company, as it expects a significant change in the scale of its activities as the contracts provide a pathway to market and sell products in collaboration with the various companies’ teams.
As a new entrant into many of its target markets, the partnerships with both companies will provide more recognition for RocketBoots brands. which the company said could boost customers’ confidence in its flagship solutions internationally.
CEO Joel Rappolt is planning to travel to North America for the next three months to help foster a relationship with AWS and build awareness of the Beehive software, creating new opportunities for the business.
Shares in RocketBoots slid 32.4 per cent following today’s updates, trading at 11.5 cents at 1:16 pm AEST.
