Zomedica Corp (NYSE: ZOM) has had an exceptional 2021, with the stock jumping over 340% year to date, outperforming the S&P 500’s 10% gains.
The stock was up over 900% at some point, but that momentum has slowed in recent weeks. Therefore, with this volatility within four months, Zomedica is a stock investor should be keen on before investing. One may wonder whether this is a meme stock soaring due to internet fame or a viable investment to add to your portfolio.
The catalyst behind the surge is the announcement at the beginning of the year that the company had appointed a new CEO Robert Cohen and the Truforma platform was about to launch. Following the announcement, almost 400,000 shares changed hands. Truforma launched mid-last month, and it is the only commercial product for the company. A valuation of $1 billion Zomedica share is likely to continue increasing in value if Truforma succeeds. There is a lot of potential in Zomedica with its Truforma platform, and it is a stock to watch in the coming months.
Biotech, Tech, and Crypto reporter
Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.