ZOM Stock Forecast: Down down we go where we stop nobody knows!
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CLAIM OFFER- NYSEAMERICAN:ZOM has been steadily declining as the retail crowd moves on.
- ZOM shares caught the hype but the reality was somewhat different.
- Value can be found in the shares but they had stretched valuations far too high.
Update: ZOM shares continue to fall back as the retail-fueled mania appears to be fizzling out now that the US economy has reopened or close to reopening! ZOM shares have more than halved from a high near $3 and are trending back below $1. The company may have a stable future but the retail mania had driven the valuation way out of line, similar for a lot of stocks during GameStop mania. Currently, ZOM shares are entering a $1.20 to $0.80 range where some support may be gained. ZOM shares are down 6% in early Monday trade at $1.17.
NYSEAMERICAN:ZOM may be running out of steam as the meme stock fervor that hit Wall Street earlier in the year is slowly wearing off. Thursday saw one of those meme stocks, Zomedica, surge by 7.32% to close the trading session at $1.32, on essentially no news at all. Aside from growth stocks rebounding from the recent sector correction, Zomedica really has not had many headlines recently aside from launching its flagship Truforma pet analytics platform in early March. Zomedica finds itself well above its 200-day moving average but also well below its 50-day moving average, which paints a picture of the stock’s recent volatility.
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With the Biden administration recently doubling down on its commitment to the biotech and pharmaceuticals industry, many speculative investors have left stocks like Zomedica to chase potentially larger gains. Although pet ownership has skyrocketed during the COVID-19 pandemic in the United States, it hasn’t led to a direct correlation to more vet offices using Zomedica’s Truforma diagnostic platform. In fact, Truforma has a very specific focus into the adrenal glands by analyzing fecal and urine samples for parasites.
ZOM Stock price
Zomedia investors may also be getting impatient with the fact that in the first month of availability, the company has only recorded one sale of Truforma to a veterinary office in New York. Although Zomedica is only targeting the east coast in its methodical rollout around the country, having only one sale so far is surely a disappointment to shareholders who thought that this would be Zomedica’s golden ticket.
- NYSEAMERICAN:ZOM has been steadily declining as the retail crowd moves on.
- ZOM shares caught the hype but the reality was somewhat different.
- Value can be found in the shares but they had stretched valuations far too high.
Update: ZOM shares continue to fall back as the retail-fueled mania appears to be fizzling out now that the US economy has reopened or close to reopening! ZOM shares have more than halved from a high near $3 and are trending back below $1. The company may have a stable future but the retail mania had driven the valuation way out of line, similar for a lot of stocks during GameStop mania. Currently, ZOM shares are entering a $1.20 to $0.80 range where some support may be gained. ZOM shares are down 6% in early Monday trade at $1.17.
NYSEAMERICAN:ZOM may be running out of steam as the meme stock fervor that hit Wall Street earlier in the year is slowly wearing off. Thursday saw one of those meme stocks, Zomedica, surge by 7.32% to close the trading session at $1.32, on essentially no news at all. Aside from growth stocks rebounding from the recent sector correction, Zomedica really has not had many headlines recently aside from launching its flagship Truforma pet analytics platform in early March. Zomedica finds itself well above its 200-day moving average but also well below its 50-day moving average, which paints a picture of the stock’s recent volatility.
Stay up to speed with hot stocks' news!
With the Biden administration recently doubling down on its commitment to the biotech and pharmaceuticals industry, many speculative investors have left stocks like Zomedica to chase potentially larger gains. Although pet ownership has skyrocketed during the COVID-19 pandemic in the United States, it hasn’t led to a direct correlation to more vet offices using Zomedica’s Truforma diagnostic platform. In fact, Truforma has a very specific focus into the adrenal glands by analyzing fecal and urine samples for parasites.
ZOM Stock price
Zomedia investors may also be getting impatient with the fact that in the first month of availability, the company has only recorded one sale of Truforma to a veterinary office in New York. Although Zomedica is only targeting the east coast in its methodical rollout around the country, having only one sale so far is surely a disappointment to shareholders who thought that this would be Zomedica’s golden ticket.
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