Traders on Reddit and other social media sites have hyped Zomedica's growth prospects in recent weeks, which has helped to propel the huge surge in its stock price.Īlthough Truforma could capture a significant share of a pet diagnostics market that's projected to reach $2.8 billion by 2024, Zomedica's stock price may have simply come too far, too fast. Zomedica's recent stock price movements appear to be a classic 'buy the rumor, sell the news' event. After such a massive move, many investors apparently decided to take profits upon news of Zomedica's first sale. In the months that followed, traders bid up the company's stock price by a staggering 2,600%. Zomedica first announced its plans to commercialize Truforma back on Nov. Investors have high hopes for its potential to help veterinarians deliver better healthcare to pets - while fueling Zomedica's revenue and profit growth along the way. The diagnostic platform for dogs and cats is Zomedica's first commercial product. Zomedica's shares have shed roughly 28% of their value since the company announced the first sale of its Truforma system on March 16. Shares of Zomedica ( NYSEMKT:ZOM) fell 10.5% Tuesday, furthering the decline in the veterinary health company's stock price over the past week. Now, Joe’s mission is to pass on what he’s learned - and what he continues to learn - as a contributing writer to. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence. Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One.

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