Zomedica (NYSEAMERICAN:ZOM) stock is taking off on Thursday despite a lack of news concerning the maker of medical devices for veterinarians.
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Surprisingly, ZOM stock isn’t seeing overly heavy levels of trade today. More than 32 million shares of the stock have changed hands as of this writing. That’s still below its daily average trading volume of roughly 109 million shares.
To be fair, there doesn’t need to be news for ZOM to rise or fall. The stock is firmly in the penny market territory with shares trading below $1 cents each. This means investors will want to be wary before jumping in on any kind of positive movement. That’s because the stock could fall just as fast as it rises.
With that warning out of the way, let’s take a look at what ZOM stock investors on StockTwits have to say about today’s rally below.
- “$ZOM Once Qorvo settles the lawsuit (like they have with plenty of other “technology infringements” occasions) we are going to skyrocket! Heska is using the law systems as a tactic to stall their competitor (Qorvo). All in all…they are just butthurt.” — Jonathan Godinez
- “$ZOM very clear reversal pattern, correction is done. wait for 2.50 next week.” — amrehsan
- “$ZOM oh and maybe I should have mentioned this earlier Vanguard added this company to 1 or more of their ETF’s. Gotta follow that institutional money, baby.” — Rat
- “$ZOM buying here I believe we have set a bottom.” — Luna Eclipse
- “$ZOM paper hands weeded out, shorts covering, diamond hands holding = good.” — Connor Cunningham
ZOM stock was up 10.9% as of Thursday morning and is up 164.3% since the start of the year.
Investors that aren’t afraid of risks also have other penny stocks to consider.
There are plenty of cheap stocks to jump in on with some of them making the news recently. That includes Asensus Surgical (NYSEMKT:ASXC). Others, such as ION Geophysical (NYSE:IO) and Fortress Biotech (NASDAQ:FBIO), may not be penny stocks for much longer. Investors can learn more about these stocks and more below.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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