Zomedica Corp (NYSEAMERICAN: ZOM) has been a hot stock to watch as of late, and the stock continues to heat up. While there hasn’t been any news or SEC filings issued by the company this morning, the stock is up yet again. Nonetheless, there’s good reason for the gains. Here’s what’s happening.
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ZOM Stock Pops On TRUFORMA Excitement
As mentioned above, Zomedica is finding its way for the top in the market this morning, but with no news, many are wondering why. The answer is simple.
Recently, ZOM said that it plans to launch its TRUFORMA diagnostics platform in March of 2021. With a target commercialization date set, the company is likely working dilligently to get everything in place for the launch, which makes the runway to launch so exciting.
Keep in mind, TRUFORMA is a diagnostics platform designed to diagnose various ailments in pets. That’s a massive market. By the year 2025, the companion animal diagnostics market is expected to grow to be worth around $3 billion annually.
Now, I’m not going to tell you that ZOM is going to corner this whole market, or even take the lion’s share. That’s yet to be seen. However, TRUFORMA doesn’t need the lion’s share of the companion animal diagnostics market to be overwhelmingly valuable for investors.
Keep in mind, we’re talking about a company witha sub-$100 million market cap.
With such a small market cap, tapping into even a small percentage of this vast market would generate meaningful revenue for the company. So, the excitement is real my friends.
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The Bottom Line
The bottom line here is that Zomedica is gearing up for a major commercial push in a massive market. At the same time, the product the company is commercializing is more effective than currently available options in diagnosing various ailments. So, with the right marketing campaign, this has the potential to generate dramtic revenues, sending the stock screaming for the top.
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