XpresSpa Group Inc (NASDAQ: XSPA) stock is headed up in the market this morning, which may seem a bit strange to some. The reality is that today, the company’s one for three reverse stock split went into effect, and these moves generally cause declines.
Nonetheless, comments made by Jim Cramer on Mad Money seem to have investors excited about the potential of XSPA stock. Here’s what’s going on:
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Jim Cramer Sends XSPA Stock Up
First and foremost, I want to make it clear that Jim Cramer did not say anything about XpresSpa in particular. Instead, the comments made that seem to be sending the stock up were in a conversation about cruise lines and airlines.
In the comments, Cramer said that for airlines to survive and come back to thrive, they “need these rapid test machines in every airport,” explaining that in order for business to bounce back, consumers need to be safe. So, what does that have to do with XSPA? Well, everything!