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March 11, 2019, 4:42 p.m. EDT

Stamps.com to buy its own stock after massive decline

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By Jeremy C. Owens

STMP

Stamps.com Inc. /zigman2/quotes/202777086/composite STMP -0.02% said Monday afternoon that it planned to repurchase up to $60 million in shares after a massive decline. The company said that the board of directors authorized the company to buy back shares over the next six months, starting March 14. Shares in the online-postage company dove more than 50% after executives announced the end of an exclusive deal with the U.S. Postal Service last month, leading to a dismal forecast for 2019. Shares gained almost 2% in after-hours trading, after closing up 1.4% at $88.31.

/zigman2/quotes/202777086/composite
US : U.S.: Nasdaq
$ 84.25
-0.02 -0.02%
Volume: 252,809
Dec. 10, 2019 4:00p
P/E Ratio
18.80
Dividend Yield
N/A
Market Cap
$1.44 billion
Rev. per Employee
$497,820
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