There was a time this year when the pet healthcare company Zomedica Pharmaceuticals (NYSEAMERICAN:ZOM) saw its stock soar to new highs and ended up clocking gains of as much as 1000%.
However, it has corrected sharply in the past three months and gone down by as much as 64%. In this situation, it might be a good move to look into the company and figure out if the correction might be an opportunity to get into the Zomedica stock.
The main thing to keep in mind with regards to Zomedica is the fact that the company has launched its diagnostic platform Truforma. If the platform does take off and veterinary practitioners do start using, then it could prove to be a massive winner for the company. The device had only been launched in March and hence, the popularity of the platform is expected to be decided by the end of this year. In the meantime, investors could consider keeping a close eye on the stock.