STMP - Can Stamps.com Return to Its Previous Glory?
Stamps.com's (NASDAQ: STMP) investors may remember 2019 as one of the most painful experiences of their investing journey. Between late February and early May, shares of the internet-based shipping software provider fell 81%. In February, the company announced it would be terminating its exclusive shipping partnership with the U.S. Postal Service (USPS).
Consequently, in May, the company reduced its 2019 full-year guidance range from $540 million-$570 million to $510 million-$560 million. In only a few months, Stamps.com morphed into one of the worst-performing stocks of 2019.
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