In a more normal market, the story of Zomedica (NYSEAMERICAN:ZOM) stock might really stand out.
To understand why, let’s do a quick recap. At the end of last year’s third quarter, ZOM stock traded for 7 cents. Owing to a high share count, the company still had a market capitalization of about $40 million. But few investors were paying attention. Volume in October, for instance, averaged roughly $1 million a day.
A little over 7 months later, Zomedica’s 3-month average daily volume is in a range that is 100x as high. The stock was part of a massive Reddit-fueled rally that pushed it from 7 cents to almost $3. That included a 3-day, 233% move fueled by an endorsement by the “star” of a popular documentary — an endorsement that cost $299 over the Cameo platform.
We’ve had, and still have, predictions of a massive “short squeeze” despite the fact that short interest remains muted….