Why Stamps.com Stock Soared 63% in July

Why Stamps.com Stock Soared 63% in July
·1 min read

Stamps.com (NASDAQ: STMP) shareholders had a great July, with the stock rocketing higher by 63% compared to the 2.3% increase in the broader market, according to data provided by S&P Global Market Intelligence. Shares had been trailing the S&P 500 early in the month, but that all changed when news broke that the online shipping solutions giant had agreed to be purchased. The acquisition announcement came before the market opened on July 9 and spurred an over 60% increase in the share price on that day.

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