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Investing.com — Stamps (NASDAQ:STMP).com Inc. rose almost 10% Monday after Citron Research said Shopify (NYSE:SHOP) could acquire the internet-based mailing and shipping solutions company.
Shopify is up more than 7%, having more than doubled in 2020.
Citron cites e-commerce being “on fire” and a large valuation gap, and is the “essential tool for small business” that is not owned by Shopify, which supports anyone interested in setting up an online store and selling products.
Shares of Stamps.com have almost tripled in 2020. In May, the company forecast total revenue for the year at between $570 million to $600 million, unchanged from previous guidance, as well as net income between $41 million and $53 million.
Total revenue for the first quarter rose 11% from a year earlier, to $151 million.
