Alpha Pro Tech (APT) Stock Rockets On Face Mask Demand

Alpha Pro Tech APT Stock News

Alpha Pro Tech, Ltd. (NYSEAMERICAN: APT) is running for the top early on, trading on gains of more than 50%. The gains come after the company provided an update with regard to face mask orders. Of course, given the fact that the Wuhan Coronavirus, or COVID-19, has spread to epidemic proportions, demand is climbing dramatically. Here’s what’s happening:

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APT Stock Is Rocketing On Face Mask Demand Growth

In the press release, Alpha Pro Tech said that it has seen a substantial increase in demand for its proprietary N-95 face mask. In fact, due to the increase in demand, the company has significantly ramped up production of the face mask, which is manufactured in the United States using United States-sourced materials.

In the release, APT said that the increase in demand is directly related to the outbreak of COVID-19.

The company also said that it booked about $14.1 million in orders for its face masks since January 27, 2020. Moreover, demand for the product seems to continue to rise.

In the release, the company said that due to its work to ramp up production, it believes that it will fulfill about $4.0 million of the orders in the first quarter of 2020. The remainder of orders is expected to be fulfilled in the second quarter of this year.

The company also said that its work to ramp up production is expected to be completed in May of this year. This work should set the stage for APT ot fulfill all current orders as well as keep up with the rising demand as future orders are expected.

Why This Is Such A Big Deal

With the rapid spread of the Wuhan Coronavirus, the medical world is in a panic, with everyone doing what they can to combat the disease. We’re seeing stocks like IBIO, NVAX, MRNA and AIM rocketing after announcing work to bring a vaccine or treatment to market. However, any of these options are likely months, if not years, off.

The one thing that many know will help to at least keep the spread at bay is the use of face masks. Because COVID-19 is an airborne illness, face masks will likely significantly reduce the risk of contracting the virus.

This is where Alpha Pro Tech comes in. The company’s proprietary N-95 face mask is like nothing else on the market. As such, considering the current epidemic, demand for the mask is likely to climb.

It’s also important to keep in mind that COVID-19 is nowhere near under control. As a result, further gains in demand as the virus spreads are expected.

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