Zomedica (NYSEAMERICAN:ZOM) stock is soaring higher on Thursday as the stock continues a rally that’s been taking place over the last couple of days.
So what has ZOM stock rallying today? It’s likely retail investors taking extra interest in the stock. We’ve seen other meme stocks run higher lately as traders on social media chatter about the short squeeze potential of this and other companies.
Let’s check in on what investors are saying about ZOM stock today on social media.
ZOM Stock Twitter Talk
$ZOM guys have those sale order placed so they can’t borrow your shares .. and turn stock lending all together.. I’m holding since 6 cents level and I have averaged up aswell taking advantage of all the dips.. if this momentum continues we will see 90 cents today!!! pic.twitter.com/nL6EjBGVlp
— BL3 (@SellingStrikes) August 26, 2021
$ZOM up 40%, I doubled downed on Monday and got 600 more shares at .47 god bless🙏🏽
— Stevie B (@steve901) August 26, 2021
$ZOM 85 cents going straight to 90 then 95 then $1
— BL3 (@SellingStrikes) August 26, 2021
ZOM Stock Reddit Chatter
“I hope to God that none of you regards in this Sub are the ones thinking they’re buying Zoom Video (ZM) but instead are bidding up Zomedica Corp. (ZOM), up 23% at $0.714. SMH” — Defiant_Chemistry966
“ZOM gonna move today up 23 percent in after hours.l and still moving. Was already up 14 percent yesterday with crazy volume!” — Buffcluff
“Weird moves by ZOM but I’ll take it” — Popular_Abrocoma558
As with every time one of these meme stocks take off, I have to warn traders about the danger of investing in them. These rallies often end with shares falling hard. That’s especially true for ZOM, which is the pure definition of a penny stock with shares trading below $1. Penny stocks are incredibly vulnerable to pump and dump schemes due to their low entry point that makes them easy to manipulate.
Investors watching ZOM stock today will note that volume is heavier than normal. Some 104 million shares of the stock have changed hands, as compared to its daily average trading volume of about 28.7 million.
ZOM stock was up 19.6% as of Thursday morning.
Investors looking for more hot stock market news will want to stick around.
We’ve got all the news traders need to know about with daily coverage of the stock market. That includes today’s biggest pre-market stock movers, what had NFT stocks rising yesterday, as well as more meme stock rally news. You can learn all about that at the links 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. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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