Zomedica (ZOM) Stock Price and News: Risk off sees ZOM down 15% early on Tuesday.
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UNLOCK OFFER- NYSEAMERICAN:ZOM drops by 15% to $1.775 in Tuesday's first hour.
- Risk-off appears to be hurting all hyped stocks as retail interest suffers.
- Zomedica results are due on Wednesday, February 24.
Update: Shares in ZOM suffer a sharp sell-off in the first hour of Tuesday trading. Markets overall are suffering and so those stocks with higher delta (move more than the underlying index) are suffering the most as profit-taking and risk-reducing strategies dominate. Investors will await ZOM results which are due out Wednesday for fuhter information on ZOM's Truforma development.
NYSEAMERICAN:ZOM has been a popular stock to trade for social media investors who are active on forums like Fintwit and Reddit. On Monday, it was clear that some of that momentum has been lost as shares of Zomedica fell by 7.89%, as the volatile performance of global markets carried over from last week. Zomedica’s stock is still up over 500% since the beginning of 2021, which shows that short-term traders have benefited from its recent gains. Long-term investors are hoping to hit a homerun with Zomedica, with an upcoming catalyst that may be a make or break period for the future success of the company.
That catalyst is of course the impending release of its veterinary software platform called Truforma. With Truforma, Zomedica is hoping to revolutionize in-office care for cats and dogs who need to be tested and treated for diseases of the thyroid and adrenal glands. Pet ownership skyrocketed during the COVID-19 pandemic, and there is an anticipated rise in the need for pet healthcare, with an estimated CAGR of 10% per year. Coupled with the fact that Truforma is a potentially revolutionary point-of-care diagnostic tool, and it is easy to see why long-term investors are bullish on the stock.
ZOM stock forecast
Zomedica will have to prove that its growth was not just due to the recent Reddit movement against Wall Street, as daily trading volume has plummeted over the past few weeks. Unlike other companies like AMC (NYSE:AMC) which already has an established ceiling, the upcoming release of Truforma could prove that Zomedica is for real.
- NYSEAMERICAN:ZOM drops by 15% to $1.775 in Tuesday's first hour.
- Risk-off appears to be hurting all hyped stocks as retail interest suffers.
- Zomedica results are due on Wednesday, February 24.
Update: Shares in ZOM suffer a sharp sell-off in the first hour of Tuesday trading. Markets overall are suffering and so those stocks with higher delta (move more than the underlying index) are suffering the most as profit-taking and risk-reducing strategies dominate. Investors will await ZOM results which are due out Wednesday for fuhter information on ZOM's Truforma development.
NYSEAMERICAN:ZOM has been a popular stock to trade for social media investors who are active on forums like Fintwit and Reddit. On Monday, it was clear that some of that momentum has been lost as shares of Zomedica fell by 7.89%, as the volatile performance of global markets carried over from last week. Zomedica’s stock is still up over 500% since the beginning of 2021, which shows that short-term traders have benefited from its recent gains. Long-term investors are hoping to hit a homerun with Zomedica, with an upcoming catalyst that may be a make or break period for the future success of the company.
That catalyst is of course the impending release of its veterinary software platform called Truforma. With Truforma, Zomedica is hoping to revolutionize in-office care for cats and dogs who need to be tested and treated for diseases of the thyroid and adrenal glands. Pet ownership skyrocketed during the COVID-19 pandemic, and there is an anticipated rise in the need for pet healthcare, with an estimated CAGR of 10% per year. Coupled with the fact that Truforma is a potentially revolutionary point-of-care diagnostic tool, and it is easy to see why long-term investors are bullish on the stock.
ZOM stock forecast
Zomedica will have to prove that its growth was not just due to the recent Reddit movement against Wall Street, as daily trading volume has plummeted over the past few weeks. Unlike other companies like AMC (NYSE:AMC) which already has an established ceiling, the upcoming release of Truforma could prove that Zomedica is for real.
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