Why Stamps.com Stock Imploded Today
Stamps.com (NASDAQ: STMP) investors received a harsh lesson in the perils of too-far, too-fast momentum-stock run-ups this morning, when shares fell as much as 22% even though the company delivered a massive earnings beat Thursday evening. As AP reports, Stamps.com earned $2.68 per share, adjusted, last quarter -- far more than the $1.91 per share that Wall Street had anticipated. Revenue likewise trumps estimates, coming in at $115.1 million, versus Wall Street's expected $109.4 million.
Regardless, Stamps.com stock sold off in a big way and remains down 18.5% as of 11:30 a.m. EDT.
Earnings beat or no earnings beat, investors weren't interested in collecting Stamps.com stock this morning. Image source: Getty Images.
Source: Fool.com
