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XpresSpa News: Why XSPA Stock Is Surging 9% Today

XpresSpa (NASDAQ:XSPA) is in the news Tuesday after announcing a business update concerning the novel coronavirus that sent XSPA stock soaring higher.

woman in a white shirt wearing a face mask while at an airport

Source: Maridav / Shutterstock

XpresSpa announced via a news release that it’s planning to offer rapid testing for the novel coronavirus at two airports. These tests will be available at the JFK International Airport and Newark Liberty International Airport starting tomorrow.

According to the company, it will be making use of the Abbott ID NOW for testing. This testing procedure allows for the company to get results to people in as little as 13 minutes.

XpresSpa notes that the new rapid testing will be available at more than just these two locations in the future. The company also plans to have it ready at all future XpresCheck locations following its opening.

Doug Satzman, CEO of XpresSpa, said this about the coronavirus testing news.

“We believe rapid COVID-19 testing at airports can play a major role in slowing the virus spread and decreasing the risk of new community outbreaks linked to travel as cases continue to rise throughout many states. We are pleased to now offer Abbott’s portable, rapid molecular ID NOW COVID-19 test, which has emerged as a critical tool in the fight against COVID-19 by delivering on-the-spot results in a matter of minutes. Having a rapid test inside the airport immediately upon travel could also eliminate the need for a full 14-day quarantine in states where that applies.”

XSPA stock was up 9% as of Tuesday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

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