STMP - Why Stamps.com Stock Jumped Today
Shares of Stamps.com (NASDAQ: STMP) have jumped today, and were up by 7% as of 12:40 p.m. EDT on Friday, following a recent report that the U.S. Postal Service (USPS) was seeing a surge in shipping demand amid the coronavirus pandemic. Stamps.com had ended its exclusive partnership with the Postal Service last year in order to partner with other shipping carriers but remains a licensed USPS vendor.
The COVID-19 pandemic has created a broad surge in e-commerce demand as consumers shop from the safety of their homes, which is driving a spike in package volumes being shipped through the Postal Service, according to The Washington Post.
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