Home Blockchain News Stamps.com Shares Plummet Over 50% after ‘Exclusivity’ Break Up With USPS

Stamps.com Shares Plummet Over 50% after ‘Exclusivity’ Break Up With USPS

by Rss Feed from web
232 views
cryptocurrency news feed

Shares of online mail-supplies firm Stamps.com plunged by over 50% in pre-market trading on Friday after the company disclosed during the fourth quarter and full-year 2018 earnings call that it will not renew its exclusive agreement with the U.S. Postal Service (USPS). Per Stamps.com’s CEO, Kenneth McBride, prevailing shipping trends have made it necessary to broaden the choice available to customers. Consequently, the online mail supplies firm was left with no option but to ‘embrace other carriers’, according to MarketWatch: Our customers can no longer survive on just the USPS, and we don’t see that as a viable option for

The post Stamps.com Shares Plummet Over 50% after ‘Exclusivity’ Break Up With USPS appeared first on CCN

Click To Read Full Article

* First published on ccn.com

Related Posts

Leave a Comment