Why is Zomedica Corp (ZOM) Down This Month Despite Positive Developments?

The rally in the Zomedica Corp (NYSE: ZOM) stock has been one of the more compelling stories of the year so far in the stock markets.

The pet health company has been one of the more notable gainers in 2021 and has managed to create wealth for many of its investors. The company has come up with a new tool that is going to make it easier for veterinarians to diagnose problems in animals. Back in January, the stock had been a target of traders on Reddit and that resulted in considerable gains.

Related:  Catasys (OTRK) Rises Amid Q2 2020 Revenue Grew 124% YoY

However, Zomedica is much more than a pump and dump stock and experts believe that there could be more upside in the future. The stock has not crashed and could well be on its way to making its way out of the penny stock category. That being said, the upside is primarily rooted in the assumption that its diagnostic hardware is going to be popular among veterinarians.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.