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Technology Stocks : stamps.com (STMP)
STMP 329.610.0%Oct 5 5:00 PM EST
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From: JakeStraw2/22/2019 10:09:29 AM
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Recommended By
richardred

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Stamps.com cratered 50% after betting big on Amazon shipping
cnbc.com
Stamps.com threw USPS under the bus, dissolving the companies' longtime partnership, because it's betting big on Amazon's success in shipping and logistics.

The company revealed Thursday it revoked the exclusivity stipulation of its deal with USPS, ultimately spurring the complete termination of its partnership. And it championed Amazon's foray into the shipping space, as reported in an SEC filing earlier this month.

"Amazon's track record of disrupting an industry is well-established. So their threat should be taken very seriously by every player in the shipping industry," CEO Ken McBride said on the company's earnings call Thursday. "We are setting our corporate strategy assuming Amazon will be a big global player in shipping."
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