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.
What happened to zomedica stock?
Nov 18, 2021 · Shares of Zomedica ( ZOM 1.94%) were sinking 14.8% lower for the week as of the market close on Thursday, according to data from S&P Global Market Intelligence. The reason behind the decline goes ...
Why is zomedica shifting its sales strategy?
Feb 10, 2021 · 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 ...
Can zomedica attract long-term investors?
Apr 16, 2021 · What happenedShares of Zomedica Pharmaceuticals (NYSEMKT: ZOM) fell 13.7% on Thursday after the veterinary health company announced a change to its sales strategy.
Is zomedica the most popular Robinhood stock?
Aug 19, 2021 · 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.
Is Zomedica a good investment?
It's not as if the company is generating millions of dollars from Truforma. 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.Jan 7, 2022
Will Zomedica recover?
Will Zomedica reverse split?
Why did Zomedica stock go up?
Is Zomedica making any revenue?
Zomedica isn't making any revenues currently and is a play on the success of its diagnostic device called Truforma. Truforma is a point of care device meant to be used by veterinary doctors. The platform would help detect thyroid and adrenal diseases in pets, and many see it as a potentially game-changing product.
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.
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.
NYSEMKT: ZOM
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There are a few glaring reasons behind the once high-flying stock's decline
February might seem like ages ago for Zomedica ( ZOM 1.60% ) shareholders. Just six months ago, shares of the veterinary health company were up more than 1,000% year to date. That's right -- in six weeks, Zomedica had become a 10-bagger.
Partner problems
It didn't take CEO Robert Cohen long to find a culprit for Zomedica's woes in the company's second-quarter update. Actually, Cohen pointed to two problems, both of which were related to Zomedica's partners.
Dismal financials
It's debatable how much Zomedica's current and former partners are responsible for the company's poor financial performance this year. However, there's no question that that performance has been dismal.
Can Zomedica zoom again?
Despite Zomedica's challenges, investors haven't thrown in the towel on the stock. Zomedica still ranks among the top 50 most popular Robinhood stocks . And there are reasons to think that Zomedica just might zoom again at some point in the future.
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Investors who bought the rumor now appear to be selling the news
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 10.5% Tuesday, furthering the decline in the veterinary health company's stock price over the past week.
So what
Zomedica's shares have shed roughly 28% of their value since the company announced the first sale of its Truforma system on March 16. The diagnostic platform for dogs and cats is Zomedica's first commercial product.
Now what
Zomedica's recent stock price movements appear to be a classic "buy the rumor, sell the news" event. Traders on Reddit and other social media sites have hyped Zomedica's growth prospects in recent weeks, which has helped to propel the huge surge in its stock price.
NYSEMKT: ZOM
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What happened
Shares of Zomedica Pharmaceuticals ( ZOM 1.60% ) rose 72.4% this week, according to data from S&P Global Market Intelligence. The veterinary health diagnostics stock closed last week at $0.29, then opened on Monday at $0.30, and didn't see the stock spike until it hit a high of $0.4899 on Thursday.
So what
Zomedica isn't an investment for the faint of heart. With just $22,514 in revenue in the third quarter, this stock is speculative at best. However, with it ending last week near its 52-week low, it was seen by many investors as an inexpensive gamble.
Now what
This isn't the first time that Zomedica has benefited from a meme-fueled buying spree. On Feb. 8, 2021, the stock climbed $1.21 in one day to $2.91 only to fall back to $1.75 by the end of the month. There's a good possibility this short squeeze won't last long, leaving some investors a little poorer for their troubles.
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When did Zomedica stock surge?
Zomedica stock surged in Jan. 2021 following a shout-out from Tiger King ’s Carole Baskin. She praised Zomedica’s efforts to help veterinarians care for sick pets, and stated that she was “invested” in learning more about the company.
Is Zomedica a long term investment?
Now with a product on the market and a basis for sustainable recovery, Zomedica can attract long-term investors. The company didn’t generate any revenue in 2020, but that's set to change with Truforma on the market. At its current low price, ZOM stock may also attract bargain hunters. Article continues below advertisement.
When did Zomedica go public?
Zomedica went public in 2016. The animal health company has developed a platform called Truforma for detecting diseases in pets. Covered by 70 patents, Truforma can perform multiple diagnostics in dogs and cats and produce results on the spot. Sales began in mid-March 2021.
How much will Zomedica spend in 2025?
Additionally, with pet ownership on the rise, Zomedica has a huge growth opportunity. Global spending on pet care products is on track to grow to $200 billion by 2025 from $131 billion in 2016, and the animal diagnostic market is forecast to grow to $9.5 billion by 2026 from $4.4 billion in 2018. Advertisement.
Truforma
Zomedica is producing and commercializing Truforma, a point-of-care device for animal diagnostics. The device can help veterinarians and pet owners by reducing the wait time for the test results. Truforma offers Zomedica a recurring revenue opportunity, as users would have to buy new cartridges to reuse the device.
Why is ZOM stock rising?
There hasn’t been any company-specific news that would be driving ZOM stock. The most recent update from the company was on Aug. 11, when it released its second-quarter earnings. If anything, the earnings were disappointing. While the company began commercial sales of Truforma in Mar.
Could Zomedica stock be in for a short squeeze?
According to data from Fintel, on Aug. 25, ZOM had a total FINRA short volume of 52.5 million shares on Aug. 25—up over sixfold from the previous day. However, ZOM's FINRA short volume as a percentage of total volumes was 55 percent, only slightly higher than the previous day's 53 percent.
ZOM stock's forecast
The forecast for ZOM stock looks positive, given the animal diagnostic market's growth. If Zomedica can successfully commercialize Truforma and its sales pick up after the launch of new assays, the stock could be a multibagger.
