Why this ASX small-cap share is rocketing 107% higher today

A little girl with red hair runs excitedly with a rocket strapped to her back, trying to launch.A little girl with red hair runs excitedly with a rocket strapped to her back, trying to launch.

In case you were wondering, the RocketBoots Ltd (ASX: ROC) share price is one of the best performers on the ASX today.

This comes after the software products and machine learning solutions company announced a partnership with a US tech giant.

At the time of writing, RocketBoots shares are up an astonishing 107.32% to 17 cents.

RocketBoots shares enter the stratosphere

Investors are fighting to get a hold of RocketBoots shares following the company’s significant announcement.

According to its release, RocketBoots advised it has been accepted to the NVIDIA Metropolis Partner Program.

Headquartered in California, NVIDIA (NASDAQ: NVDA) is one of the world’s leading tech companies. It’s famous for developing integrated circuits, which are used in everything from electronic game consoles to personal computers (PCs).

The company is also a leading manufacturer of high-end graphics processing units (GPUs).

The business has a market capitalisation of roughly US$468 billion and employs over 22,000 people worldwide.

Being included in the Metropolis ecosystem allows RocketBoots to leverage NVIDIA developer tools and software development kits to enhance its AI-vision applications and services.

RocketBoots will use NVIDA’s high-performance computing platform to deliver advanced computer vision capabilities to its flagship software, Beehive.

Deployed and managed remotely, the software product collects physical world activity data through cameras and sensors. It is centred upon solving challenges in workforce management, property management and loss prevention.

Being admitted to the program provides RocketBoots the opportunity to gain early access to NVIDIA technology updates.

Furthermore, it creates another pathway for RocketBoots to market and sell its software in unison with NVIDIA.

Under the partnership, either party can terminate the agreement on immediate notice.

RocketBoots share price summary

While RocketBoots shares are accelerating today, since its listing in December 2021, they have fallen 15%.

The RocketBoots share price hit an all-time low of 8.2 cents yesterday before racing to a 5-month high today.

Based on valuation grounds, RocketBoots presides a market capitalisation of roughly $3.08 million, with about 60.25 million shares outstanding.

The post Why this ASX small-cap share is rocketing 107% higher today appeared first on The Motley Fool Australia.

Should you invest $1,000 in RocketBoots right now?

Before you consider RocketBoots, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and RocketBoots wasn’t one of them.

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*Returns as of January 13th 2022

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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