Why Pitney Bowes Stock Just Exploded 18% Higher

It's a post-Christmas miracle for Pitney Bowes (NYSE: PBI) shareholders. In a press release this morning, the postal services facilitator announced that it will be reinstating higher prices for its standard and cross-border delivery services, initially introduced during the peak 2020 shipping season, effective Jan. 25, 2021, and keeping those prices "in effect until further notice."

Shareholders responded by bidding up Pitney Bowes' stock price by an incredible 18% through 1 p.m. EST.

Image source: Getty Images.

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Source Fool.com