Why Is Xpresspa (XSPA) Rocketing 16% Before Market Open Today?

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DNAY Stock
DNAY Stock

The global health and wellness company XpresSpa Group, Inc. (Nasdaq: XSPA) has been seeing stock rising 16.05% (as of 08:10 a.m. EST) in pre-market trading today. The stock is likely to be continuing the rally began on the weekend when it came rising 3.85% to close the Friday trading at $1.62. Apparently, there has been no directly linked news that could drive the move.

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XpresSpa is the company’s primary asset. With 45 locations in 23 airports globally, XpresSpa is a leading airport retailer of spa services and related products. At seven locations in six airports, the Company provides COVID-19 screening and testing under the XpresCheck brand through its subsidiary XpresTest, Inc. They feature one outlet each at JFK International Airport, Newark Liberty International Airport, Phoenix Sky Harbor International Airport, Denver International Airport, Salt Lake City International Airport, and two outlets at Logan International Airport.

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XpresSpa announced last Thursday that it has signed a contract with Seattle-Tacoma International Airport (SEA) to create an XpresCheck COVID-19 pop-up testing facility.

  • It is expected to be fully operational by mid-March, and is the first testing facility of the Company on the West Coast.
  • Pre-security in Baggage Claim near Carousel 9 will be equipped with a pop-up checkpoint, and the service will be provided by XpresCheck.
  • It will have a capacity to administer 500 tests per day across eight separate testing rooms.

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  • Various methods of COVID-19 testing will be available, including Polymerase Chain Reaction (PCR) Test and Rapid Molecular COVID-19 Test.

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