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Stamford city workers hand out free at-home COVID-19 test kits on January 02, 2022 in Stamford, Connecticut. The Connecticut state government received some 400,000 tests over the weekend which were sent to cities and towns for local distribution.

People find it hard to obtain COVID tests these days as COVID rapid test tripled in price. As the new variant surges and cases rise, people look to get tested more than ever. However, people are looking for faster results to get back to their daily lives. This means rapid tests are in high demand, and if you know anything about the economy, increased demand means higher prices.

Taking it a step farther, it’s not just retail outlets that have the test available people are charging extra for their friends. For example, a restaurant worker in New York said she paid someone double the retail price in a sidewalk exchange for a test kit. In addition, some are arguing policies of city and state are causing the drastic rise as they mandate that a negative test must be shown to return to your daily life.

People can still get a free test at local pharmacies that have them, but the turnaround is what some people can not afford. In addition, missing a few days for work is not an option for many hit with recent rising inflation. President Biden has stated he sent out over 500 million home tests, but not only have they yet to arrive, but we are not sure if they will be an acceptable form of rapid testing. Despite all that COVID rapid test tripled in price!

[Source LA Times]

Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.

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