- NYSEAMERICAN:ZOM gained a further 2.91% on Tuesday despite the border market retreat.
- Zomedica reported its Q4 and year end 2020 earnings results on Friday after the closing bell.
- Investors continue to believe that the impending Truforma release will launch Zomedica to a huge windfall.
NYSEAMERICAN:ZOM continued its stellar year ever since the calendar flipped to 2021, as the pet diagnostic company is still up over 500% year to date. Tuesday saw Zomedica continue its momentum from Monday as the stock gained 2.91% to close the trading session at $2.12. It has been less than a year since Zomedica was trading as a penny stock as is evident by its 52-week low price of $0.06. In the meantime, Zomedica briefly rode the wave of being a target of the Reddit sugroup r/WallStreetBets which accounted for much of the rise in the stock’s price.
Stay up to speed with hot stocks' news!
On Friday, Zomedica released its Q4 and year end 2020 financial results, and the news was somewhat optimistic for a company that has zero revenues to date. Losses were lower year-over-year from 2019, as ZOM announced losses of $16.9 million in 2020 compared to $19.8 million in 2019. This equates to roughly losses of $0.05 per share compared to $0.19 per share in 2019. Zomedic also reported it had nearly $280 million in the bank after several rounds of stock offerings to raise cash and take advantage of its current stock price.
ZOM stock forecast
Of course, the main focus for Zomedica investors continues to be the upcoming release of its Truforma pet diagnostic platform at the end of March. While a nationwide rollout does not seem to be in the cards, Zomedica is taking its time with a staggered, regional rollout, which should help keep costs lower, but at the same time, limit the rate of sales growth.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD holds lower ground near 0.6350 after weak Aussie jobs data
AUD/USD is holding lower ground near 0.6350 in Asian trading on Thursday. The downbeat Australian jobs data fans RBA rate cut bets, maintaining the downward pressure on the pair. US-China trade tensions and US Dollar recovery act as a headwind for the pair.
USD/JPY stages a solid recovery toward 143.00 on US-Japan trade optimism
USD/JPY holds the impressive rebound from seven-month lows of 141.61, directed toward 143.00 in the Asian session on Thursday. The pair tracks the US Dollar rebound, fuelled by contrstructive trade talks between the US and Japan. A tepid risk recovery also aids the pair's upswing.
Gold price corrects from record highs of $3,358
Gold price retreats from a fresh all-time peak of $3,358 reached earlier in the Asian session on Thursday. Despite the pullback, tariff uncertainty, the escalating US-China trade war, global recession fears, and expectations of more aggressive Fed easing will likely cishion the Gold price downside.
Ethereum face value-accrual risks due to data availability roadmap
Ethereum declined 1%, trading just below $1,600 in the early Asian session on Thursday, as Binance Research's latest report suggests that the data availability roadmap has been hampering its value accrual.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.