Zomedica Corp (NYSEAMERICAN:ZOM) Stock Slips Below 50 Cents: Now What?
Zomedica Corp (NYSEAMERICAN:ZOM) has had a pretty hard time in the markets in recent days and the situation did not improve on Monday as the stock tanked by as much as 6%.
Market Stats
On Monday, ZOM stock slumped 8.37% to $0.4389 with more than 19.91 million shares, compared to its average volume of 27.53 million shares. The stock has moved within a range of $0.4150 – 0.4740 after opening trading at $0.4650.
Major Trigger
That took the losses suffered by the Zomedica stock over the course of the past week to as much as 13%. There has been no fresh news about the company in recent days but the selloff in the stock has probably been triggered by the company’s third fiscal quarter results, which were announced earlier on this month on November 12.
In that quarter, Zomedica performed poorly and managed to generate revenues of only $22514 to go along with a net loss of as much as $6.3 million. In light of such a weak performance, the selloff in the veterinary health company stock is perhaps not a complete surprise.
In this regard, it should be noted that earlier on in the year it was a pretty popular stock and had managed to record significant gains on the back of the anticipation surrounding its Truforma diagnostic test platform meant for veterinarians. The platform had been launched back on March 15 but the sales have been underwhelming so far.
Traders Corner
ZOM stock is trading below the 20-Day and 50-Day Moving averages of $0.50 and $0.52 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.95. The stock is down 12% in the past month.
