U.S. Markets open in 10 mins
  • S&P Futures

    3,902.00
    +4.25 (+0.11%)
     
  • Dow Futures

    31,241.00
    +39.00 (+0.12%)
     
  • Nasdaq Futures

    11,838.00
    -40.25 (-0.34%)
     
  • Russell 2000 Futures

    1,771.50
    -3.40 (-0.19%)
     
  • Crude Oil

    110.35
    +0.46 (+0.42%)
     
  • Gold

    1,845.10
    +3.90 (+0.21%)
     
  • Silver

    21.87
    -0.03 (-0.13%)
     
  • EUR/USD

    1.0562
    -0.0026 (-0.2429%)
     
  • 10-Yr Bond

    2.7870
    -0.0680 (-2.38%)
     
  • Vix

    29.43
    +0.08 (+0.27%)
     
  • GBP/USD

    1.2495
    +0.0020 (+0.1587%)
     
  • USD/JPY

    127.8500
    +0.0560 (+0.0438%)
     
  • BTC-USD

    29,282.31
    -1,171.90 (-3.85%)
     
  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     
  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     
  • Nikkei 225

    26,739.03
    +336.19 (+1.27%)
     
WEF 2022:

Yahoo Finance is in Davos! Get the latest updates here

Alpha Pro Tech Says Order For $14M Face Masks Will Be Fulfilled

  • Oops!
    Something went wrong.
    Please try again later.
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Alpha Pro Tech, Ltd. (NYSE: APT) shares trading sharply higher after the company said it expects to fulfill the remainder of $14.1 million in currently-booked orders for face masks as the demand rises due to the COVID-19 virus spreading in the second-quarter.

As the coronavirus outbreak spreads beyond China, the demand for masks is on the rise and due to this people are having trouble getting hold of medical masks. China is one the world’s largest producers of masks.

The Timereports there is a daily capacity of 20 million pieces, but by the estimate of its manufacturers, domestic demand alone is around 50-60 million per day.

Another important point being made is that experts also doubt the effectiveness of the masks for stopping transmission of the virus, and according to U.S. health officials the bug spreads mostly between people who are in close contact with each other, and from respiratory droplets when an infected person sneezes or coughs.

Alpha Pro Tech shares rose 24.5% on Wednesday and were trading up another 55% Thursday morning. The stock has a 52-week high of $13.45 and a 52-week low of $3.20.

Related Links:

18 Medical Stocks To Watch Amid The Coronavirus Outbreak

Moderna Shares Surge As Drugmaker Delivers First Coronavirus Vaccine

A street scene in Guangzhou. Photo by zhizhou deng via Wikimedia.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.