XpresSpa Group News: XSPA Stock Skyrockets 74% on Coronavirus Testing Contract

XSPA is planning for more testing locations

XpresSpa Group (NASDAQ:XSPA) is seeing massive gains to XSPA stock on Friday following news of a testing contract for the novel coronavirus.

XpresSpa Group News: XSPA Stock Skyrockets 74% on Coronavirus Testing Contract
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An XpresSpa Group news release reveals details about the deal. It has the company signing a contract with JFK International Air Terminal for a modular testing location in Terminal 4. This location will include nine testing rooms and can test up to 500 people per day.

According to XpresSpa Group, the company plans to use the new XpresCheck locations to test people at the airport. That includes “airline employees, contractors and workers, concessionaires and their employees, TSA officers, and U.S. Customs and Border Protection agents.”

XpresSpa Group also notes that the current contract is for a pilot location. However, it’s working to bring similar testing facilities to more airports in the future. These plans may also have it converting some XpresSpa locations into XpresCheck testing facilities for the coronavirus.

Doug Satzman, XpresSpa Group CEO, said this in the news release.

“We are thrilled to be in a position to launch our first pilot test at JFK Terminal 4 and are hopeful that this will serve as a model in other U.S. airports. The vision and close collaboration with JFKIAT senior leaders have enabled this initiative to move quickly so that we can together support the safety and health of front line airport workers and travelers as New York’s recovery plan takes form.”

XpresSpa Group says it’s also in talks with the Port Authority of New York and New Jersey to open XpresCheck locations in other areas.

XSPA stock was up 73.9% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/05/xpresspa-group-coronavirus-testing-news-boosts-xspa-stock/.

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