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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


Stamps.com Inc. /zigman2/quotes/202777086/composite STMP -2.58% 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.

US : U.S.: Nasdaq
$ 88.49
-2.34 -2.58%
Volume: 683,931
Jan. 21, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$1.55 billion
Rev. per Employee

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