Stamps.com shares surge on UPS partnership

Market Insider

A Stamps.com promotional image

Source: Stamps.com

Shares of Stamps.com surged more than 18% during extended trade after shipping giant UPS announced a partnership that will allow Stamps.com’s more than 740,000 customers to access discounted UPS shipping rates.

“This new collaboration will allow us to bring the leading shipping solutions of UPS to our customer base in a simpler and more seamless fashion, and at very attractive new discounts,” said Ken McBride, chairman and CEO of Stamps.com in a press release.

Stamps.com, which offers internet-based shipping services, has seen its shares fall more than 50% year-to date.

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