ZOM - 2 Meme Stocks That Are Still Down 50% Since February 2021
Meme stocks have continued their roller coast ride as retail investors have been flocking to risky buys again. Bed Bath & Beyond (NASDAQ: BBBY) has soared more than 280% since July and penny stock Zomedica (NYSEMKT: ZOM) is up around 40%.
The danger of getting caught up in the hype is forgetting that these stocks have been down this road before, and it led to some significant losses for investors afterwards. If you bought these stocks over a year ago, back when meme stocks were at their peak, you could still be down more than half of your original investment.
In February 2021, shares of Zomedica were trading at well over $2 per share on several days, and even came close to reaching $3 at one point. Since then, it has been an epic decline for this veterinary company. As of Thursday, the stock was down to just $0.28 -- falling around 90% from the peak it hit in February 2021. The problem with Zomedica is that its business is largely unprofitable -- and it could remain that way for a long time.
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2 Meme Stocks That Are Still Down 50% Since February 2021