Why Zomedica Stock Plunged Today

Shares of Zomedica Pharmaceuticals (NYSEMKT: ZOM) fell 13.7% on Thursday after the veterinary health company announced a change to its sales strategy. 

Zomedica will build out its internal sales team as it transitions away from its current distributor-based approach. CEO Robert Cohen said the move was precipitated by "changes at our current distributor that we believe have impacted its ability to market our products effectively." Those words likely startled investors, many of whom decided to sell their shares.

Zomedica's stock price dropped sharply on Thursday. Image source: Getty Images.

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Source Fool.com