Can Zomedica (ZOM) Become a Stock Market Monster in 2021?
By: Andrew Martin
Tags: Finance, Investment, Investing, Stock Market, Money

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Can Zomedica (ZOM) Become a Stock Market Monster in 2021?

The stock market can be volatile. Big gains are possible but so are big losses. This is especially true of penny stocks, which are typically less-established companies and can soar or fall flat depending on their leadership and product viability. An early contender for a 2021 penny stock breakout is Zomedica (ZOM), which is on the verge of releasing a highly anticipated veterinarian diagnostic tool that could send its stock flying.

Zomedica Corp. is a development stage company that focuses on the unmet needs of clinical veterinarians. Founded in 2013, it is headquartered in Ann Arbor, Michigan and domiciled in Canada. A recent shareholder vote rejected the company’s proposal to domesticate to Delaware.

After years of work that occurred largely behind the scenes, Zomedica seems to have really hit on something with its development of TRUFORMA™. The company describes their product as “TRUFORMA™ introduces highly sensitive, species specific assays for the diagnosis of thyroid disease in dogs and cats and adrenal disease in dogs. TRUFORMA™ delivers the accuracy and performance you demand with the convenience and ease of use you need. Complete thyroid and adrenal results within the patient visit mean less stress for pets, pet owners and the veterinary health care team.”

Instead of vets having collect take bio samples and process lab results, which might take days, TRUFORMA™ utilizes disposable cartridges that can provide accurate results on the thyroids and adrenal glands of dogs and cats within 20 minutes or less. Needless to say, this is a gamechanger in the world of veterinary science, which was responsible for about $42 billion of business in the United States in 2020.

The diagnostic segment of vet science is its own robust niche. GlobeNewswire reports the specific section of the market is expected grow about 50% from its 2019 $1.7 billion to $2.8 billion in 2024. A significant portion of this could be from this new product. Dogs and cats have increasingly become part of the family dynamic and something that could be so helpful in protecting their health and well-being could be a real home run.

TRUFORMA™ is entirely unique and utilizes Bulk Acoustic Wave (BAW) technology that was developed by Qorvo. It was used by Zomedica to establish a platform that can be used by vets at the point of care. They have made a product that is all their own, as they have protected their proprietary rights with 70 current and pending patents related to their groundbreaking work. This has also been approved by the FDA. It puts them in an enviable position as they prepare to officially launch sales on March 31st, 2021.

ZOM stock has extremely high volume, averaging over 50 million shares being moved daily. That speaks to its volatility. However, the potential of the product that has been developed lends itself to some very favorable possible outcomes. As a result, many analysts see it as a possible good buy.

Currently trading at about 0.23 a share, ZOM is affordable for anyone wanting to take a dip into its potential. There are certainly no sure things in investing but anyone looking for a lower-cost stock opportunity may want to check out and do their due diligence on this company about to unleash an unprecedented product in a booming market.

DISCLAIMER: The author is not a financial advisor or expert. The opinions expressed in this article are intended for general educational purposes and entertainment only and are not intended in any way to provide specific advice or recommendations for any individual or on any specific security or investment product. Individual investors are responsible for their own money and investment decisions. The author holds a small position in the product discussed in the article.

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