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      Zomedica Corp. (ZOM) stock plunged in the pre-market trading session: here’s why - Stocks Telegraph

      By ST Staff

      Published on

      April 6, 2021

      12:06 PM UTC

      Zomedica Corp. (ZOM) stock plunged in the pre-market trading session: here’s why - Stocks Telegraph

      Zomedica Corp (ZOM) stock recently traded at $1.33 which is an 8.90% downward movement. The ZOM stock previously closed at $1.46. ZOM stock also plunged in the pre-market trading session by 11.28% at the time of writing.

      The recent pattern of negative movement in the ZOM stock isn’t due to any recent PR news as of April. But this stock has been known to be volatile and gives traders quick short gains or losses if they are not lucky.

      About Zomedica Corp

      Zomedica Corp (NYSE: ZOM) is a veterinary health company that creates commercial products for pets specifically cats and dogs. They focus especially on delivering and innovating products which tend to be the unmet needs of the clinical veterinarians.

      Dwelling deeper into the ZOM stock performance

      Zomedica Corp (ZOM) stock due to its volatility pattern in 2021 would suggest that it should not be kept for the long position. In the month of December 2020, the stock was worth 20-25 cents per share however it entered the year 2021 with a bounce in price up to $1.30 and didn’t stop there. It shot well over the $2 mark and up to $2.91 in February. However, the stock has jumped down from the peak-price climb and now is around $1.30-$1.35 per share.

      If you have experience with trading in for short positions and swift market timing then this stock can definitely give you a reward. For that it is also important that you understand what is the recent operational activities happening in the ZOM stock’s fundamentals;

      Zomedica has released a veterinary diagnosis-kit that has been tailor made and sold known as TRUFORMA. This was delivered on 16th March, ahead of the announced 30th March date. It is an on-site canine eACTH assay that is created for the purpose of eliminating the risk of sample transport error. Furthermore, it aids in the diagnosis of adrenal disease. To learn more, read our article covering this news by clicking here.

      What makes ZOM stock so special?

      With the latest milestone in its flagship product, we need to look into the stats of the pet diagnostic market. The most significant data about the market is that 93% of the dog owners visit veterinary annually and with the average lifespan of dog in mind, that means they will visit for 15 years give or take. Furthermore, 67% of the households keep a single pet at least and $99 billion is the amount that consumers spent on their pets in the US, 2020.

      These stats are very welcoming for Truforma and with other assays in the phase to be released soon, 2021 seems highly for ZOM stock to rise. Zomedica has also submitted an in the company’s SEC 10-K form, a bull thesis which indicates the market potential for companion animal diagnostic market forecasted to reach $2.8 billion  (a 5-year CAGR of 9.8%) by 2024. Similarly, the global veterinary immunodiagnostic market has been forecasted to reach $2.1 billion by 2022 (CAGR 9.6%) This potential is well within reach as the company keeps reaching its milestones one by one.

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