- Shares of Stamps.com (NASDAQ:STMP) are down 14.1% in early trading to sink to their lowest level of the year.
- Seeking Alpha contributor The Friendly Bear posted a negative take on the Internet mailing firm earlier today.
- The article points to some undisclosed settlements between Stamps.com and state governments.
- "Near-term, we expect the stock to trace back to its historical EV/EBITDA level of ~10x, or ~50% near-term downside from current levels ($50 target price)," writes The Friendly Bear.
- Stamps.com will have its say on May 5 when earnings are reported and execs host a conference call.