ZOM - Zomedica Stock Jumped Today. Is It a Buy?
Zomedica (NYSEMKT: ZOM) continued its momentum on Monday that began late last week. Shares closed 3.1% higher after soaring as much as 22.9% during the day. Investors were encouraged by the company's announcement of fourth-quarter revenue totaling $4.1 million. The company is set to report its full results on Tuesday but chose to provide its revenue figure a little earlier than scheduled. Is Zomedica a buy after its gain today?
There's certainly some reason for investors to be more optimistic about the company's prospects now than they've been in the past. The veterinary health company didn't have any sales in the prior-year period. During the entire first three quarters of 2021, Zomedica generated revenue of less than $30,000.
The company's acquisition of PulseVet for $70.9 million in October 2021 is already making a big difference. PulseVet accounted for $4 million of Zomedica's $4.1 million in fourth-quarter revenue. Its shock wave therapy is used in treating a wide variety of conditions in animals.
For further details see:
Zomedica Stock Jumped Today. Is It a Buy?