STMP - Stamps.Com: The Other Shoe Drops

There was another shoe, after all.

A bit less than three months ago, I wrote an article titled “Stamps.com: Amazingly, The Biggest Shoe Is Yet To Drop.” The thesis described in that article was simple:

• Stamps.com (STMP) had taken a very significant cut to its earnings guidance because of the loss of a direct NSA (Negotiated Service Agreement) with the US Postal Service. This was the first shoe to drop.
• However, there was still another significant shoe yet to drop: The fact that Stamps.com also explored a similar relationship with the