It sounds like you have Gummosis, a fungal disease caused by a Botryosphaeria fungus. In some areas like Florida it's extremely common, and since there are no effective fungicides control can become a complete nightmare.
Since you mentioned stunted growth I suspect your tree has been water-stressed, which is the very first cause predisposing Prunus sp to gummosis.
The only thing that can be done about gummosis is disease management: fallen leaves should be raked and destroyed, pruning should only be done during a dry spell, weeds around the base of the tree should be eliminated to reduce moisture and finally any new wounds on other Prunus trees should be immediately sealed with pruning mastic.
If you cannot afford this level of care or the disease is progressed too far, I suggest promptly eliminating the tree and burning it.
