Zomedica (ZOM) Stock Is Flying: Here’s Why

Zomedica Corp (NYSEAMERICAN: ZOM) is screaming for the top, following up on yesterday’s strong gains. However, if you’re looking for press releases or SEC filings from the company, you’ll be hard pressed to find anything. There’s nothing out there. 

Nonetheless, there’s a good reason for the run. Here’s what’s going on:

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Retail Investors Are Piling In

In the beginning of the year, meme stocks were all the rage. GameStop, AMC, Bed Bath & Beyond, and several others made their ways to the top as retail investors dove into, squeezing the shorts out of their positions. ZOM was one of these stocks.

However, over the past short while meme stocks have begun to cool off, many of them experiencing significant declines. 

Now, it seems as though retail investors are diving back into many of these names, seeing yet another opportunity to make massive profits by squeezing short-side hedge funds out of their positions, and Zomedica has a big target on it. 

With short interest heading back up, it seems as though now is the time for retailers to band together and push the stock for the top, and that’s exactly what they’re doing. 

ZOM Beyond The Meme Stock Push

While Zomedica has found itself caught up in the meme stock frenzy, there’s much more to the company than simply retail excitement. In fact, ZOM is a company that’s working to save the lives of companion animals. 

How are they doing that?

The company has developed, and launched, a diagnostics system capable of diagnosing a wide range of conditions in animals, many of which were unable to be diagnosed definitively in the past. 

Moreover, the diagnostics system is designed for use in veterinary clinics and provides results incredibly quickly. That means that most tests that used to have to be sent to a lab, taking days or even weeks, can now be done in the veterinary clinic in a matter of minutes or hours. 

As is the case with human ailments, many animal ailments are time sensitive, meaning that the ability to provide results in minutes and hours rather than days and weeks has the potential to save the lives of countless pets. 

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Final Thoughts

All told, investors and traders alike seem to be excited about ZOM stock. Investors are looking forward to the long-term opportunity posed by the company while traders see an opportunity to ride the wave as retailers band together to push the shorts out. At this point, if you’fe not watching the stock yet, you’re missing out!

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