STMP - Why Stamps.com Stock Soared 34.8% in August
Shares of Stamps.com (NASDAQ: STMP) climbed 34.8% in August, according to data from S&P Global Market Intelligence, after the beaten-down online-postage specialist announced encouraging quarterly results and raised its full-year outlook.
Stamps.com stock soared 27% on Aug. 8, 2019 alone -- the first trading day after the company told investors its second-quarter revenue declined 0.6% year over year to $138.8 million, translating to a more than 50% decline in adjusted net income to $22.3 million, or $1.25 per share. Recall that Stamps.com's top- and bottom-line performance is still under pressure on the heels of management's surprise decision in February to end the company's exclusive partnership with the U.S. Postal Service (USPS) in order to embrace partnerships with other carriers in the increasingly competitive shipping industry.
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