Here's How American Express Company Crushed It in 2017
Shareholders of American Express (NYSE: AXP) could be forgiven for not knowing what to expect from the company entering 2017. After all, it was coming out of a two-year period (from the beginning of 2015 to the end of 2016) where its stock price had declined by 20% while the S&P 500 had gained 9%. This fall from grace was punctuated by the company losing large co-branded card agreements like the one with Costco. Many were also questioning its ability to attract millennial cardholders.
Yet for all the questions the company had to answer entering the year, patient investors have been amply rewarded. American Express stock is up more than 33% year to date, crushing the S&P 500's 18% returns. While there are various factors that go into a turnaround like this, here's a closer look at three that have significantly contributed to the company's fortunes this year.
Source: Fool.com
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