Turnaround stories often have a special place in the stock market and if you are interested in such stocks then it could be a good move to take a look at Zomedica Corp (NYSE: ZOM).
It was only in 2019 that the stock was trading at 50 cents a share and on top of that, that company’s cash balance has also been almost completely depleted. However, in order to stay in business, the company entered into a financing agreement on tough terms that saw it raise $12 million through preferred shares.
In March, the company successfully retired those shares and that has been hailed as a significant positive by Zomedica. The Chief Executive Officer of the company went on to state that the retirement of the preferred shares market a major milestone since it is going to remove ‘a potential overhand’ around the Zomedica stock. While the development is commendable, investors need to note that the stock still values a bit too high.
CEO and Editor in Chief.
Living in the era of dynamic tech change Asan 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 Finance) writing for technology and as well as finance has been one of the precious aspects of his life