Has Zomedica (ZOM) Stock Lost Its Reddit-Driven Rally Charm?

Massive rallies fuelled by retail investors on Reddit have been a major phenomenon of the stock market this year and one of the stocks to have benefitted in that regard is that of Zomedica Corp (NYSEAMERICAN:ZOM).

Has Zomedica (ZOM) Stock Lost Its Reddit-Driven Rally Charm?

The stock was trading at 7 cents a share at the end of the third quarter in 2020, however, in a period of around 7 months, the stock soared to as much as $3 a share.

The rally has been remarkable, thanks to Reddit traders, but it is also necessary to point out that the stock considerably overvalued as well. However, like many of the other ‘Reddit stocks’, there is a bull case to be made in case of Zomedica as well. The company has built the diagnostic platform Truforma that is mean to provide veterinary practitioners with diagnostic testing services. In March, the platform was commercialized and it now remains to be seen if Truforma does take off as a product.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life