Shares of Zomedica Pharmaceuticals (NYSEMKT: ZOM) fell 13.7% on Thursday after the veterinary health company announced a change to its sales strategy. So what Zomedica will build out its internal sales team as it transitions away from its current distributor-based approach.
Full Answer
Why did zomedica stock fall 14% on Tuesday?
Shares of Zomedica ( NYSEMKT:ZOM) fell 14% on Tuesday after the pet health company disclosed that it was increasing the size of its stock offering by nearly sevenfold. On Nov. 13, Zomedica announced commercialization plans for its Truforma diagnostic platform for cats and dogs.
Did zomedica surrender some of its recent gains?
Yesterday, Zomedica moved to cash in on the incredible rally in its stock price by selling nearly 13.2 million of its shares to investors at a price of $1.90 per share. Zomedica surrendered some of its recent gains on Tuesday. Image source: Getty Images.
Where can I find the latest news about Zom?
- StockNews.com Sign up to receive the latest news and ratings for ZOM and its competitors with MarketBeat's FREE daily newsletter. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Did Tiger King star Carole Baskin promote zomedica?
News broke on Tuesday that Carole Baskin, star of the hit Netflix reality show Tiger King, was paid to promote Zomedica in a video posted on YouTube. In the days since that video was posted last week, Zomedica's stock price more than tripled. Zomedica's shares shed more than a quarter of their value on Wednesday.
Why is Zomedica stock soared today?
The big jump came after the veterinary health company provided a sneak peek at its 2021 fourth-quarter and full-year revenue following the market close on Friday. Zomedica reported total revenue in the fourth quarter and full-year 2021 of $4.1 million. The company stated that its gross margin was 73.9%.
What happen to Zomedica stocks?
Zomedica's shares have plunged more than 80% after skyrocketing earlier this year. The company has experienced problems with a distribution partner being acquired and a development partner's delays. Zomedica could rebound once new assays for its Truforma instrument are available.
Should I sell my Zomedica stock?
Considering the 90-day investment horizon and your highly speculative risk level, our recommendation regarding Zomedica Pharmaceuticals Corp is 'Strong Sell'.
Is ZOM expected to go up?
Stock Price Forecast The 1 analysts offering 12-month price forecasts for Zomedica Corp have a median target of 1.20, with a high estimate of 1.20 and a low estimate of 1.20. The median estimate represents a +391.60% increase from the last price of 0.24.
Why is Zomedica so low?
CEO Robert Cohen said the move was precipitated by "changes at our current distributor that we believe have impacted its ability to market our products effectively." Those words likely startled investors, many of whom decided to sell their shares. Zomedica's stock price dropped sharply on Thursday.
Is Zomedica being shorted?
Zomedica saw a increase in short interest during the month of May. As of May 31st, there was short interest totaling 116,080,000 shares, an increase of 3.1% from the previous total of 112,640,000 shares. Changes in short volume can be used to identify positive and negative investor sentiment.
Is Zomedica a good investment?
In the final analysis, ZOM stock is highly risky and best suited for speculative traders. Yet it's possible that retail traders will bid the stock up in 2022. And if they abandon Zomedica, it would be a dog-gone shame.
Is Zomedica a real company?
About us. Zomedica (NYSE American:ZOM) is a veterinary health company focused on meeting the needs of clinical veterinarians in ways that promote both patient and practice health.
Will Zomedica be delisted?
(NYSE American: ZOM) (TSX-V: ZOM) (“Zomedica” or the “Company”) a veterinary diagnostic and pharmaceutical company, today announced that it has received approval of its application to delist its common shares from the TSX Venture Exchange (“TSXV”) effective at the close of business on February 10, 2020.
Will ZOM stock go up in 2021?
Will Zom Stock Go Up? Zomedica's share price has been in a slump for the major part of 2021. Get more Shares news. The new year has not brought any significant changes in fortune.
What is Zomedica target price?
$1.20Stock Price TargetsHigh$1.20Median$1.20Low$1.20Average$1.20Current Price$0.25
How many shares of ZOM are there?
Share StatisticsAvg Vol (3 month) 319.04MShares Outstanding 5979.9MImplied Shares Outstanding 6N/AFloat 8966.83M% Held by Insiders 12.56%7 more rows
The veterinary health specialist is selling more shares than investors expected
Joe honed his investing skills as an analyst for Stock Advisor. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns.
What happened
Shares of Zomedica ( NYSEMKT:ZOM) fell 14% on Tuesday after the pet health company disclosed that it was increasing the size of its stock offering by nearly sevenfold.
So what
On Nov. 13, Zomedica announced commercialization plans for its Truforma diagnostic platform for cats and dogs. Its stock subsequently went on to soar a stunning 2,750%.
Now what
It's rare for a company to increase its share offering so significantly, especially at such a late hour. It's thus somewhat surprising that Zomedica's stock price didn't decline even more on Tuesday.
Who is Zomedica Corp?
ANN ARBOR, Mich., Oct. 01, 2021 (GLOBE NEWSWIRE) -- Zomedica Corp. (NYSE American: ZOM) (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostic and therapeutic products for companion animals, today announced that it had acquired the Pulse Veterinary Technologies businesses for $70.9 million in an all-cash, stock transaction. Pulse Veterinary Technologies (“PulseVet”) is a world leader in electro-hydraulic shock wave technology for the treatment of a wide vari
How much will the pet diagnostics market be in 2024?
consumers were expected to have spent $99 billion on their pets in 2020. The companion animal diagnostics market is forecast to reach $2.8 billion by 2024, at a compounded annual growth rate (CAGR) of 9.8% from 2019 to 2024.
Is Zomedica in the development stage?
Zomedica, which is in the development stage, recorded no revenues in 2020. The 2020 net loss resulted from research and development (“R&D”) expenses of approximately $8.0 million, general and administrative (“G&A”) expenses of approximately $6.0 million, and professional fees of approximately $2.2 million.
Is Zomedica publicly traded?
Founded in 2013 and publicly-traded since 2016, Zomedica (ZOM) is a relatively new organization. However, this veterinary-focused medical device company has seen tremendous interest among growth investors of late. Why? Well, there are a number of reasons for this. Among the core reasons for the surging interest in pet-friendly tech plays is the growth we've seen in pet adoption rates throughout the pandemic. As owners are discovering, a pet adoption is a multi-year (or even multi-decade) long co
Is Zomedica a meme?
As has been the case for several months, Zomedica (NYSEAMERICAN:ZOM) continues to tread water. ZOM stock, a pet diagnostics play and reputed meme stock, has struggled to bounce back after big declines last spring. Source: Postmodern Studio / Shutterstock.com Said decline came right after shares, trading for well under $1 at the start of 2021, zoomed to as much as $2.91. The move may or may not have been the product of Reddit traders stampeding into it with full force. But I wouldn’t put too much
What happened
Shares of Zomedica (NYSEMKT: ZOM) fell 14% on Tuesday after the pet health company disclosed that it was increasing the size of its stock offering by nearly sevenfold.
So what
On Nov. 13, Zomedica announced commercialization plans for its Truforma diagnostic platform for cats and dogs. Its stock subsequently went on to soar a stunning 2,750%.
Now what
It's rare for a company to increase its share offering so significantly, especially at such a late hour. It's thus somewhat surprising that Zomedica's stock price didn't decline even more on Tuesday.
Why was the stock ZOM targeted?
ZOM stock was targeted by WallStreetBets because of its high short interest. The short squeeze helped drive ZOM stock higher. ZOM’s short interest came down in February as bears were once bitten twice shy to bet against the company. However, the stock’s short interest ticked up to 6.3 percent in the most recent filing.
How much is the companion animal diagnostics market?
The market for companion animal diagnostics was $1.7 billion in 2019, which ZOM expects to rise to $2.8 billion by 2024 citing data from MarketsandMarkets. Even after the fall, ZOM stock has a market capitalization of $1.3 billion. This is more than double the forecasted 2025 market opportunity for companion animal diagnostics.
Is Zomedica a good company?
Zomedica is a niche company and is a good way to play the animal diagnostic market. According to Zomedica, nearly two-thirds of U.S. households have at least one pet and most of the households with a pet dog visit a veterinarian annually.
Will ZOM stock go up?
ZOM stock has been on a falling spree. It fell 8.9 percent on April 5 and was trading lower in pre-market trading on April 6. There has been a tectonic shift from speculative growth stocks towards established value stocks. ZOM stock would continue to remain under pressure for some time.
