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Thursday, September 23, 2021

XpresSpa Group, Inc. (XSPA) stock is on a skywalk, why?

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XpresSpa Group, Inc. (NASDAQ: XSPA), shows a hike in its stock after the company signed a contract with the Port of Seattle for the company’s new development i-e XpresCheck Covid 19 pop-up testing facility is Seattle Tacoma International airport. This is the company’s very first testing facility on the west coast which will be operational by the mid of March.

XpresSpa is a leading company deals with global health and wellness. The company is an airport retailer of spa services and many other health and wellness related products, currently working in 23 airports globally.

What is happening?

Recently company has launched its medical services through its XpresTest, Inc. Subsidiary, providing Covid 19 screening and testing under the XpresSpa’s label in six airports at seven different locations. This is the company’s very beneficial initiative especially in the time of pandemic when it was being thought that businesses like XpresSpa could be the worst business idea to proceed with because of all the mandatory precautions that people are taking. In this crucial time for any business, XpresSpa transformed its business model from spa and wellness to a more comprehensive idea that includes medical testing as well which is very relevant to current situation of the world. 

Now what?

Under their recently launched plan, XpresCheck will be developing a pop-up facility pre security in baggage claim near Carousel 9. This will possess eight spate testing rooms with the capacity to perform over 500 tests per day. In this testing option two facilities will be provided:

  • Polymerase Chain Reaction Test (PCR)
  • Rapid Molecular Covid-19 Test

The company’s CEO has shown his gratitude and confidence in their new initiative of launching XpresCheck at SEA Airport as well as in their partnership with Hawaiian Airlines and the state of Hawaii since many direct flights to Hawaii originate at SEA. This expansion XpresCheck brand will be highly profitable for the company.

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