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STMP - Stamps.com: A Broken Stock And A Broken Business
Stamps.com Inc.
The share price of Stamps.com (STMP) dropped like a rock after its announcement of ending its exclusive shipping partnership with USPS, United States Postal Service, in order to pursue other private carriers. Stamps.com CEO Ken McBride claimed that the shifting market environment of the shipping and logistics industry was the main driver for the decision to break away from USPS, which in McBride's prediction, would become less and less competitive in facing powerful new entrants like Amazon (AMZN). In doing so, Stamps.com guided its revenue down by 5% and halved its