ZOM Stock Price Increases Over 45%: Why It Happened

By Amit Chowdhry ● February 8, 2021
  • The stock price of Zomedica Corp (NYSEAMERICAN: ZOM) is trading at over 45% as of 2:16 PM ET today. This is why it happened.

The stock price of Zomedica Corp (NYSEAMERICAN: ZOM) — a development stage veterinary diagnostic and pharmaceutical company that engages in the discovery, development, and commercialization of pharmaceuticals for pets — is trading at over 45% today as of 2:16 PM ET. Since there was not any fundamental news from the company announced this past week, it appears that the stock price increase due to external forces.

There has been an uptick in references to ZOM in stock trading groups on Facebook, Discord chat rooms, stock trading subreddits, Twitter hashtags, and YouTube channels throughout this past week. Since earlier morning, there were a lot of comments about the potential for a ZOM stock price increase on subreddit groups like r/pennystocks, r/wallstreetbets, r/TheBullishTraders, and r/Zomedica.

There is also investor excitement around Zomedica’s upcoming launch of TRUFORMA — which is expected to arrive on March 30. TRUFORMA is a point-of-care diagnostic device used for detecting thyroid disease in dogs and cats. And in late January, Zomedica signed a deal with Miller Veterinary Supply for the distribution of TRUFORMA.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.