Veterinary health firm Zomedica Corp (NYSEAMERICAN:ZOM) had a sharp fall not too long ago but yesterday the stock was actually trading in a range. That being said, it is also necessary for investors to keep in mind that the company was actually in the news yesterday after it made a key announcement.
Trading Data
On Wednesday, ZOM stock fell 0.70% to $0.30 with more than 6.82 million shares, compared to its average volume of 17.22 million shares. The stock moved within a range of $0.2999 – 0.3070 after opening trade at $0.2999.
Zomedica’s Announces Designation of Pulsevet System as the Official Shock Wave Therapy of the American Quarter Horse Association
Zomedica noted that its product PulseVet System had been made the Official Shock Wave Therapy of the American Quarter Horse Association. It goes without saying that it was a major new development for the company as well as for its product but it did not lead to any major move in the stock.
However, it is important for investors to keep in mind the product is one of the leaders in its category and has the capability of providing treatment for a wide variety of conditions that may affect animals.
The recognition from an industry body is certainly a welcome development for Zomedica and it could be interesting to see if the stock eventually does get any traction from among investors. At this point, it may be a good idea for investors to perhaps keep an eye on it.
Key Quote
“PulseVet has a standout reputation for quality, innovation and thorough research, and AQHA is proud to associate with a partner of this caliber,” said Patty Tiberg, AQHA chief marketing and business development officer. “AQHA is pleased to join efforts with a company that supports the Association’s mission to maintain the integrity of the breed and welfare of its horses.”
Technical Data
ZOM stock is trading above the 20-Day and 50-Day Moving averages of $0.32 and $0.33 respectively. However, the stock is trading below the 200-Day moving average of $0.45.
