Why Zomedica Stock Soared 72.4% This Week
Shares of Zomedica Pharmaceuticals (NYSEMKT: ZOM) rose 72.4% this week, according to data from S&P Global Market Intelligence. The veterinary health diagnostics stock closed last week at $0.29, then opened on Monday at $0.30, and didn't see the stock spike until it hit a high of $0.4899 on Thursday. The stock's 52-week high is $2.72, and its low $0.27. Despite the rally this week, the stock is down more than 81% over the past year.
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Zomedica isn't an investment for the faint of heart. With just $22,514 in revenue in the third quarter, this stock is speculative at best. However, with it ending last week near its 52-week low, it was seen by many investors as an inexpensive gamble. Bear in mind, too, that as low as Zomedica has been trading, it doesn't take much of a bump to get a huge percentage gain, especially with only a $373.3 million market cap.
Source Fool.com
