$Zomedica Pharmaceuticals Corp.(ZOM)$ Another shortsqueeze top pick!
Zomedica (ZOM) has recently been a topic of discussion among traders due to its high short interest, which makes it a potential candidate for a short squeeze. As of end September 2024, Zomedica had over 43 million shares shorted, accounting for 4.5% of its float, with a "days to cover" ratio of 14.2. This indicates a significant level of short interest compared to the average trading volume, and it would take about two weeks for all short positions to be covered, which could fuel a squeeze if momentum builds.
Despite some improvements, like a reduction in short interest by 11.9% since the previous month, the stock is still heavily shorted. Moreover, Zomedica's recent operational highlights, including strategic acquisitions and developments in veterinary diagnostics (e.g., TRUFORMA platform), could act as catalysts, particularly if there is renewed interest from retail traders or positive market sentiment around its product pipeline.
This setup, combined with Zomedica's low stock price (hovering around $0.13), presents conditions where a sharp increase in buying pressure could force shorts to cover their positions, amplifying price movement in a potential short squeeze.
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