XELA Stock Price: Over 10% Increase Pre-Market Explanation

By Amit Chowdhry ● June 10, 2021
  • The stock price of Exela Technologies, Inc. (NASDAQ: XELA) increased by over 10% pre-market. This is why it happened.

The stock price of Exela Technologies, Inc. (NASDAQ: XELA) increased by over 10% pre-market. This is a continuation in momentum as the company stock price increased 8.28% yesterday.

Investors have been responding positively to the company announcing an extension and expansion of its partnership with one of the largest specialty care services insurance carriers in the country. This engagement utilizes Exela’s powerful cloud-based digital exchange platform for the insurance industry PCH Global — which provides a single point of access for claims management, correspondence and payments, to expand the current deployment to approximately 3,800 specialists as registered users within the customer organization using Exela’s proprietary workflow and rule engines across all aspects of the health claims spectrum including behavioral health.

As relationship extension, Exela will collaborate with the customer to ultimately connect 27,000 unique providers to PCH Global to help drive digital clean claims submission and communication to improve transparency and reduce administrative costs. And Exela continues to invest in expanding PCH Global capabilities to provide a cloud hosted solution with one of the best edit resolutions for healthcare claims.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.