The company did have $277.5 million of cash on hand at the end of February, giving it some room to maneuver going forward. Sure, retiring outstanding preferred shares was positive. 3 Big Stories to Catch Up On. --Zomedica Corp., a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that, with the hiring of … The company's stock was trading at just less than 16 … Of course, analysts and investors want to see more in terms of sales, but Zomedica has at least begun to move forward with commercialization, which is reason for optimism. What Did the Stock Market Do Today? A couple months ago, Zomedica released its fourth quarter and full-year 2020 results.For the year, Zomedica lost $16.9 million, or 5 cents per share. Zomedica recorded net loss and comprehensive loss for the three months ended March 31, 2021 of approximately $4.0 million and incurred a direct charge to retained earnings as a … He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia. Zomedica Corp. (AMEX:ZOM) went up by 27.33% from its latest closing price compared to the recent 1-year high of $1.50. As a penny stock, there is no real analyst coverage of the stock or a price target placed on it at this time. Zomedica closed a $30 million public offering on July 7, following a $20 million public offering in May. Shares of Zomedica started picking up steam early in the year, when the company announced on Jan. 4 that it had a new CEO (Robert Cohen) and that its Truforma platform was close to launching. Stock Advisor launched in February of 2002. Zomedica (ZOM) shares have suffered since the sale of its first Truforma product. Investors who are interested in buying stock of the Ann Arbor, Michigan-based animal health company may want to pull the trigger with the share price down 47% since March 15. Although that's an important milestone for the business, it is now off to the races to see how many of the products it can sell. ANN ARBOR, Mich., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM), a veterinary health company creating point-of-care diagnostics products for companion animals, announced today that Robert Cohen, Interim Chief Executive Officer, and Stephanie Morley, President and Chief Medical Officer, will present at the upcoming H.C. Wainwright Virtual … 1125 N. Charles St, Baltimore, MD 21201. ZOM shares still up significantly in 2021 as retail investors back it. Everything will depend on Zomedica’s ability to dramatically increase its sales in coming months and quarters. But despite what the company or its salespeople may say about the product, it is going to come down to whether veterinarians see value in it, and the sure-fire way to determine that is through Zomedica's sales numbers. Article printed from InvestorPlace Media, https://investorplace.com/2021/04/zomedica-stock-pullback-opens-door-for-investors-to-take-a-small-position/. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that. Below, I'll look at what has been driving the stock's price this year and assess whether Zomedica is just another meme stock benefiting from a rise in internet fame, or if it is an investment that is actually suitable for your portfolio. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. Zomedica's TRUFORMA platform is intended to make life easier for companion pet owners and veterinarians alike by providing accurate and quick … Swapping them for $44 million worth of common stock was a cagy move. ... it will be the outlook and any further news on the Truforma rollout that will turn heads. Zomedica Corp. (AMEX:ZOM) went down by -7.59% from its latest closing price compared to the recent 1-year high of $2.91. quotes delayed at least 15 minutes, all others at least 20 minutes. How You Could Double Your Money at Least 6 TIMES This Year. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. And that could be the case, as the company says the platform allows veterinarians to quickly obtain samples from patients to rapidly assess conditions such as hyperthyroidism and euthyroid sick syndrome. The latest news and upcoming dividend, earnings, and split events for Zomedica Corp. (ZOM:US). Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. And if Truforma proves to be a winner, there will still be plenty of time to invest in Zomedica. Previously, it wasn't all that common for the stock's daily trading volumes to rise above 100,000. 2021 InvestorPlace Media, LLC. Before You Buy Zomedica Stock, Stop and Consider These 3 Things, Copyright, Trademark and Patent Information. In a bizarre twist in the whole influential stock-picking game, the pet healthcare company Zomedica … On March 16, Zomedica announced its first commercial sale of the Truforma platform. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. Investors appear to be buying in ahead of Zomedica's upcoming launch of its Truforma point-of-care diagnostic platform for cats and dogs on March 30. Zomedica (ZOM) expects to begin commercial sales of TRUFORMA on March 30, 2021. Copyright © 2021 InvestorPlace Media, LLC. @themotleyfool #stocks $ZOM. Nasdaq Zomedica Stock Pullback Opens Door for Investors To Take a Small Position, On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. … On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. Zomedica remains in start-up mode. Animal health company Zomedica has enough potential to warrant an investment. While the sales pitch sounds intriguing, Zomedica still has a ways to go to translate its lofty ambitions into income. Not only are sales crucial to get the business to profitability, but in Zomedica's case, they will also be important to prove that there is strong demand for Truforma. All rights reserved. Zomedica is expected to have its quarterly earnings call on February 24th, at which point the company will no doubt highlight the upcoming release of Truforma. ZOM Zomedica Corp Latest News. Additionally, the validation data for the Truforma platform (indicating how accurate its test results are) has been overwhelmingly positive, giving veterinarians reason to trust the technology and buy the equipment. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. But with a share price under $1.50, it might be worthwhile for investors to assume that risk given the potential reward. With such extreme volatility in less than four months, this is a stock that investors should be careful with and take a closer look at before making an investment decision. Zomedica expects to begin commercial sales of TRUFORMA on March 30, 2021. Veterinary diagnostics is a competitive but growing field. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Against this backdrop, we think shares of veterinary diagnostic company Zomedica Corp. (ZOM) are well-positioned to gain ahead of the company’s forthcoming launch of its flagship Truforma point-of-care diagnostic platform in March. Zomedica recorded net loss and comprehensive loss for the year ended December 31, 2020 of approximately $16.9 million or $0.05 per share, compared to a … That day, more than 400,000 shares of the stock changed hands. Aside from … Recent news out of Zomedica hasn’t been needle-moving. Given the current situation, investors should consider taking a small position in ZOM stock to start. Shares of Zomedica (NYSEMKT:ZOM) surged on Friday, furthering the veterinary health company's sharp gains since November. Zomedica is expected to have its quarterly earnings call on February 24th, at which point the company will no doubt highlight the upcoming release of Truforma. Get news for AMEX companies quoted on the stock market, press releases, financial disclosures and multimedia content, for investment community, individual investors and the general public. ZOM shares closed up 2% on Friday. Zomedica News: This is the News-site for the company Zomedica on Markets Insider The first sale moved Zomedica into the commercialization stage with its technology. ZOM stock is gaining today, but a Bloomberg report says Zomedica could be yesterday's news By Chris MacDonald , InvestorPlace Contributor Apr 6, 2021, 3:05 pm EDT April 6, 2021 However, that sort of thing is common with meme stocks. 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. Zomedica (NYSEMKT:ZOM) has been one of the hottest stocks of 2021, soaring more than 340% this year and dwarfing the S&P 500 and its 10% gains in … Any misstep on the sales front and the company’s stock is sure to be punished. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. The company's platform has a chance to be a disruptor. Zomedica has not made any announcements or issued any news that would pressure its share price. All Bets Are Off for Zomedica Stock in the Near-Term Short-term price action in ZOM stock hinges on the 'meme stock' trend, not its fundamentals By Thomas Niel Apr 2, … According to company’s latest data on outstanding shares, there are 972.02 Million shares outstanding. With plenty of other growth stocks out there to invest in that already have successful products, Zomedica might not be worth the risk. Zomedica claims that the platform provides instant diagnostic test results and eliminates the need to send samples to a laboratory, saving veterinarians and pet owners time and money. Upcoming Webinar Latest News More News View RACE-Approved Webinars Retail investors are often willing to bet on a company as long as there is potential for its shares to double or triple in value. Truforma, which was launched mid-March, is Zomedica's only commercialized product thus far, and so there is still quite a bit of risk involved with the company. In just the past month, Zomedica's stock has nosedived more than 55% (while the S&P 500 has increased 5%), as investors have been moving away from speculative investments. But be sure to keep the initial position small enough that you don’t lose your shirt should the stock continue declining. ZOM remains in focus with retail traders. Zomedica recently launched its first commercial product. ZOM stock rocketed 731% higher in January and early February after it was targeted along with other speculative “meme stocks” by Reddit investors. With no guarantee that the decline is over, investors are likely better off steering clear of Zomedica, at least until there are some sales numbers to assess. Zomedica announced on March 16 the first official sale of its Truforma platform to a veterinarian in the U.S. Zomedica’s first customer was an animal hospital in New York City. The company’s stock price has collected 107.61% of gains in the last five trading sessions. On May 19, iconic growth investor Louis Navellier will reveal how his powerful quant-based stock system could accelerate your wealth and help fund your retirement. Zomedica Pharmaceuticals Corp. has a new interim chief executive, according to a statement. The company didn’t generate any revenue in 2020 and posted a net loss of $16.9 million for the year. Zomedica has high hopes for the Truforma platform, which it is aggressively marketing to veterinarians across the U.S. That suggests there has been some speculation involved in the stock's impressive rally this year. Is the current slump in Zomedica (NYSEAMERICAN:ZOM) stock a buying opportunity? Zomedica Corp. (NYSEAMERICAN:ZOM) CFO Ann Marie Cotter sold 58,332 shares of the stock in a transaction on Monday, April 12th. Zomedica announced on March 16 the first official sale of its Truforma platform to a veterinarian in the U.S. Zomedica’s first customer was an animal hospital in … It’s still early days for Zomedica and its technology. All Bets Are Off for Zomedica Stock in the Near-Term Short-term price action in ZOM stock hinges on the 'meme stock' trend, not its fundamentals By Thomas Niel Apr 2, … Data on historical trading for Zomedica Corp. (NYSE:ZOM) indicates that the trading volumes over the past 10 days have averaged 45.2 Million and over the past 3 months, they’ve averaged 161.23 Million. Zomedica (ZOM) was founded in 2015 in Ann Arbour, Michigan. Nothing specific has happened with Zomedica to cause the current slump in its share price, which fell as much as 10% in intra-day trading on April 5. According to the company, there is a largely untapped animal diagnostics market that could be worth more than $5 billion in the next six years. At just $1.32 a share, ZOM stock is now down nearly 60% from its all-time high of $2.91 reached in early February of this year. ZOM Stock: Upcoming Catalysts Do Not Justify Its Strong Performance Zomedica shares were already up substantially before the recent move from … Zomedica’s Status Prior To Product Launch. The shares … Zomedica Corp.(NYSE:ZOM): Pet care stocks have been on a solid run of late as homebound lifestyles have caused more Americans to adopt pets. If it has bottomed, turns the corner, and begins rising, then buy more as you ride the escalator up. Spending on pets in 2020 totaled $103.6 billion, which was 8.3% higher than the prior-year tally of $95.7 billion. Keep a close eye on the share price. Better Robinhood Stock: Sundial Growers or Zomedica? Is Zomedica … Joel Baglole has been a business journalist for 20 years. ... See all the latest hot stocks news. And with a modest valuation of around $1 billion, there's plenty of room for that to happen to Zomedica -- if the company's product proves to be successful. The latest news and upcoming dividend, earnings, and split events for Zomedica Corp. (ZOM:US). At one point it was up more than 900%, but it has been losing steam of late. Investors should view the company and ZOM stock as a tech start-up that carries a significant amount of risk at this stage. Previously the company had been in the development stage with a lot of research and development (R&D) costs and no real revenue. However, unlike many of the other meme stocks driven higher by crowds of retail investors, Zomedica actually has some future potential to recommend it. Zomedica expects to begin commercial sales of TRUFORMA on March 30, 2021. As of 12:52 p.m. EST, Zomedica's share price was up … Cumulative Growth of a $10,000 Investment in Stock Advisor, Should You Buy Zomedica in April? The company’s market capitalization currently stands at more than $1.5 billion. ’s writers disclose this fact and warn readers of the risks. About Zomedica Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for dogs and cats by focusing on the unmet needs of clinical veterinarians. The main catalyst for the current pullback appears to be retail investors on the r/WallStreetBets Reddit channel moving onto new targets and the broader market rotation into value and cyclical stocks. 7 Dividend Stocks to Avoid in Your Retirement Portfolio, Louis Navellier and the InvestorPlace Research Staff. Management is betting that the convenience and cost savings of its Truforma platform will make it a hit with veterinarians. Market data powered by FactSet and Web Financial Group. Development stage veterinary diagnostic and pharmaceutical company Zomedica Corp. develops products for companion animals such as cats and dogs and horses.Its stock has soared 940.2% over the past three months primarily because Carole Baskin of Netflix, Inc. ‘s hit show ‘Tiger King’ promoted the company in a show in January.Reddit users then grabbed the stock, which led to a short … It is one thing to invest in risky stocks that are incurring losses or struggling to grow their sales, but to buy stock of a company that has just started generating revenue takes it to another level. The company has developed a proprietary technology called “Truforma” that streamlines and simplifies diagnostic testing in cats and dogs. We expect Zomedica ZOM investors to focus on the outlook for the company’s first commercial product, scheduled to be launched on Mar 30, 2021, when it …
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