TagStamps.com

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

Stamps.com, USPS

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...