In recent times, investors have been increasingly enamoured with the Zomedica (NYSEAMERICAN:ZOM) stock in recent times after the company finally launched its animal diagnostic platform Truforma a few months ago.
However, at the same time, it is also necessary to point out that Zomedica stock is still quite overvalued and the company will need to grow its revenues substantially in order to justify the valuations. Despite the fact that Truforma got endorsements from veterinary practitioners following its launch, there is no indication if Zomedica has generated strong sales or not.
As a matter of fact, the company announced not too long ago that it decided to do away with its distribution based sales strategy and is going to get into a direct sales strategy. That is possibly an indication that the sales figures are not growing adequately. Zomedica has not released any data with regards to its sales either. Hence, in this sort of situation it might not be a particularly great idea for investors to get into the Zomedica stock.
Market Reaction:
On Friday, ZOM stock went down by 1.78% to $0.8874 with more than 35.70 million shares, compared to its average volume of 54.26 million shares. The stock has moved within a range of $0.8606 – 0.9200 after opening the trade at $0.9151. Over the past 52-week, the stock has been trading within a range of $0.0630 – 2.9100.
Key Performances
| 5-DAY PERF. | -6.25% |
| 1-MONTH PERF. | +8.95% |
| 3-MONTH PERF. | -57.74% |
| 6-MONTH PERF. | +329.32% |
| YTD PERF. | +284.82% |
| 1-YEAR PERF. | +303.36% |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.7993 | 0.8299 | 0.8587 | 0.8893 | 0.9181 | 0.9487 | 0.9775 |
| Fibonacci | 0.8299 | 0.8526 | 0.8666 | 0.8893 | 0.9120 | 0.9260 | 0.9487 |
| Camarilla | 0.8711 | 0.8765 | 0.8820 | 0.8893 | 0.8928 | 0.8983 | 0.9037 |
| Woodie | 0.8260 | 0.8433 | 0.8854 | 0.9027 | 0.9448 | 0.9621 | 1.0042 |
| DeMark | – | – | 0.8443 | 0.8893 | 0.9037 | – | – |
 stock Continues to Trade Below $1: Will it Rebound?){kind=link}