What happened
Yowza -- coronavirus sure did a number on the stock markets today. By the close of trading Monday, the Dow was down 3.6%, the Nasdaq 3.7%, and the broader S&P 500 3.4%.
Stocks with no bad news to report -- Stamps.com (STMP), for example -- got hit as hard as any others, and harder than most. In fact, enduring a 10.8% drop in share price, Stamps' loss was nearly three times as bad as the Nasdaq's at large.
Image source: Getty Images.
So what
And that's OK.
There was, after all, no bad news released Monday that was particular to Stamps.com -- "just" bad news for stocks in general, and for the global economy in general.
After the sell-off, this parcel shipping company is still sitting pretty atop a Q4 earnings report that was much better than expected. It still has its partnership with UPS intact. It is also "continuing to promote the [post office's] services under ... partnerships with the [latter's] resellers." And all of this business is going well enough that Stamps.com still expects to earn between $4 and $5 per share this year -- well above the $3.23 per share Wall Street had been expecting.
Now what
None of the above has changed. What has changed is that after surging 65.5% on Thursday, and 10.4% more Friday, today Stamps.com gave back Friday's gains, and a bit of Thursday's.
That still leaves Stamps.com stock worth an astounding 63% more that it cost before earnings came out three days ago. And that's still something its shareholders can be happy about.
