Before a new trading week starts, it is perhaps time for investors to take a look at some of the stocks which managed to make a strong move on Friday.
One of the stocks which managed to do so was that of the health and wellness firm XpresSpa Group Inc (NASDAQ:XSPA). Last Friday, the company announced that its subsidiary company Xpres Check had been given the authority by the Centers for Disease Control and Prevention (CDC) to go ahead with a pilot program worth $2 million and lasting for 8 weeks for COVID 19 testing.
It goes without saying that it was a significant development for the company and investors identified it as such as well. The company saw its stock jump by as much as 5.5% as investors flocked to it.
As per the provisions of the program, Xpres Check is going to be involved in biosurveillance monitoring at three key airports in the United States at its own COVID-19 testing facilities. It should be noted that the initial focus of the pilot program is going to be on India. It is expected to help in the identification of both existing and new variants of COVID 19.