With the help of a new UPS partnership, the online postage specialist's multicarrier strategy is starting to bear fruit.
News & Analysis: Stamps.com
STMP earnings call for the period ending September 30, 2019.
The online shipping company delivered a beat-and-raise quarter thanks in part to its new partnership with UPS.
This beaten-down stock surged over 20% on the news.
Markets finished lower, but some stocks managed to post blockbuster gains.
After nixing its agreement with the U.S. Postal Service earlier this year, a new deal with UPS is exactly what investors wanted to see.
The market's trading higher this year, but some stocks have not been playing along.
Stamps.com's stock lost more than 80% of its value in the first half of 2019. However, there are at least three reasons why the company may be able to recover and regain its previous glory.
The online-postage leader delivered solid quarterly results and encouraging news on the USPS reseller-partner front.
An earnings beat, an analyst upgrade, and (let's be honest) just plain investor relief that Stamps.com isn't entirely dead yet.