The company's health passport app shows proof of vaccination and test results
Ramped up Covid-19 vaccinations and easing restrictions across the globe are leading to strength in the travel sector. However, as countries continue to reopen their borders to vaccinated travelers, it remains unclear how they should provide proof of vaccination. Trxade Health Inc (NASDAQ:MEDS) today launched its MedCheks Health Passport app as a solution to that problem. The app, which is already available on the iOS App store, provides a QR code to show proof of vaccination or test results. In response, MEDS became the top trending stock on trading-focused social media platform Stocktwits.
The health services name is soaring today, up 72.1% at $7.02 at last check, after earlier hitting an annual high of $10.82. Shares have had a volatile run on the charts as of late, but have more than tripled off their May lows near the $3.10 mark. Over the past month, MEDS has added 129.8%.
The brokerage bunch is majorly bullish towards the security, with all three analysts in question carrying a "buy" or better rating, with not a single "hold" or "sell" in sight. Plus, the 12-month consensus target price of $9.25 is a whopping 30.8% premium to current levels.