Stamps.com Inc. (NASDAQ:STMP) shares are trading higher by $47.00 (31 percent) at $198.30 in Thursday's session.
The catalyst for the rally is a Q2 EPS beat of 46 cents along with a sales beat of $16.8 million. The company significantly raised its FY 2017 guidance.
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Adding to the buying frenzy is the stock's high short interest. As of Wednesday, over a quarter of the entire float was held in short positions coupled with a short interest ratio (days to cover) at 11.6.
After nearly a $30.00 higher open, Stamps.com had only a $2.40 retreat to $178.00 before resuming its move higher. So far, the rally has crossed the $200.00 threshold as $201.55 stands as the high for the session as of Noon EST.