XpresSpa (XSPA) Stock Continues Its Run For The Top

XpresSpa XSPA Stock News

XpresSpa Group Inc (NASDAQ: XSPA) is headed up in the market this morning, following up on the strong gains seen from the stock yesterday. The gains come after the company’s CEO, Doug Satzman, appeared an exclusive interview on Fox Business. Here’s what’s going on:

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XSPA Stock Continues Up Following Interview

The gains in XpresSpa Group stock started yesterday after Satzman showed up on Fox Business News and are continuing with a strong start to the session this morning. So, what’s the deal?

In the interview, XpresSpa outlined the fact that their equipment for the Abbott ID Now testing technology early this week. As a result, the company will be offering these ID Now tests by Wednesday of this week at JFK International Airport in Terminal 4.

This new testing technology is a big opportunity for XSPA. Previously, if you were to visit an XpressCheck facility, you would be tested and your sample would be sent off to a lab, taking days to get your result. However, with the Abbott ID Now testing becoming available, travelers will receive their results within 5 minutes if the results are positive and within 13 minutes if the results are negative.

Leading into the interview, Fox Business star, Liz Claman outlined the fact that XSPA testing may spread through the airport ecosystem faster than you think, bringing testing to its more than 50 locations around the United States.

What’s So Exciting?

With COVID-19 case counts declining, many are wondering if there’s still time for XpresSpa to make any money with its COVID-19 testing subsidiary, XpressCheck. The answer is a resounding yes!

The fact of the matter is that while COVID-19 case counts are going down, we’re also headed into flu season. Experts suggest that we will see case counts climb as temperatures fall lower.

Moreover, even if case counts were to stay relatively low, there’s a huge opportunity here. The fact of the matter is that no illness has hurt the United States the way COVID-19 has throughout history. This pandemic has left a scar on the American and global psyche. As a result, I believe that testing will be in high demand for at least a couple years to come.

As a result, XSPA has plenty of time to capitalize on its idea to transition its in-airport spa locations into COVID-19 testing centers. Moreover, with the declines we saw from the stock since its highs in June, current valuations may be offering a discount on strong future growth. All in all XSPA stock is one to watch closely.

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