Zomedica (NYSEAMERICAN:ZOM) Stock Moves near To $1:

The Zomedica Corp (NYSEAMERICAN:ZOM) stock has got a fair bit of traction among investors at different point this year. At the start of 2021, it was trading at 25 cents a share before it enjoyed a remarkable rally and ended up hitting $2.90 a share in February.

However, the stock has corrected sharply since then and is now trading at 91 cents a share. The company was in the news this year after it launched its diagnostic platform Truforma, which is meant for pets.

That being said, it is also necessary to keep in mind that the stock is currently overvalued and up until the company can grow its revenues, it might be difficult to justify the valuation.

The company has not had any commercial success yet and in order to boost its sales for Truforma, Zomedica will need to spend as well. Additionally, there has also been considerable dilution of the stock. While Truforma may or may not be a success in the future, the stock seems overvalued at this point.

Moving Averages

+/- EMA(20)0.87 (+6.90%)
+/- SMA(50)1.00 (-7.00%)
+/- SMA(200)0.77 (+20.78%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

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