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Why XpresSpa's Stock Is Trading Lower Today

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Why XpresSpa's Stock Is Trading Lower Today

XpresSpa (NASDAQ: XSPA) shares are trading lower Thursday afternoon after the company priced its 24.51 million share common stock and warrants offering at $1.70 per unit.

XpresSpa traded higher by more than 20% Thursday morning after a subsidiary secured a national agreement with United Airlines to provide COVID-19 testing services.

XpresSpa Group is engaged in building a preeminent pure-play health and wellness services company around its core asset XpresSpa. Geographically, it generates a majority of its revenue from the U.S.

XpresSpa shares were trading down 6.13% at $1.36 at the time of publication. The stock has a 52-week high of $8.82 and a 52-week low of 15 cents.

 

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