Stamps.com (STMP, $198.08) shares falls -50%, after company breaks up with U.S. Postal Service
Shares of Stamps.com plunged more than -50% Friday, following news of its severing ties with the U.S. Postal Service (USPS).
On Thursday after the stock market closed, Stamps.com's chairman and CEO Kenneth Thomas McBride told analysts that the online shipping and mailing company no longer wished to maintain an exclusivity with the USPS alone, and instead was looking to forge collaborations with other carriers like FedEx and United Parcel Service too. USPS did not agree to the proposal, and this apparently led to Stamps.com deciding to end its partnership with the former. McBride is apparently also keen on leveraging Amazon’s foray into the shipping space.
McBride mentioned that the company finds it unviable to continue being exclusive with just the Postal Service, since “customers can no longer survive on just the USPS” according to McBride. He has also indicated that Amazon is fast emerging as a potent force in the shipping sector especially with the latter’s fast delivery services, and hinted that working with Amazon is the smart thing to do.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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a provider of internet based postage services
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