Zomedica Corp (NYSE: ZOM) stock gained 5% on Tuesday as it moves to reverse some of its negative moments in recent times.
Over the past month, the stock has shed almost 30% of its value. Interestingly, the stock has been a bagger since the start of 2021 as the trade seems to have some legs among retail investors. There is some excitement around Zomedica, and it has the potential of turning things around. The company announced TRUFORMA platform commercialization which sent the stock soaring. However, there is a concern for the lack of updates over the same, and social media sentiment is not that strong with the stock. As a result, there is growing concern that the stock’s recent declines are indicative of what is to come going forward.
There is a sentiment shift. A Bloomberg report indicated that in the twitchy meme stocks world, Zomedica is out, and Brooklyn ImmunoTherpautics Inc. is in as retail investors switch to biotech stocks. This is enough to tip scales when choosing small-cap stocks; investors should thus keep an eye on Zomedica in the coming months.
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.