Is American Express Stock a Buy Now?
American Express (NYSE: AXP) put together a fantastic performance for investors in 2024. Shares of the credit card company soared 59% last year, substantially outperforming the broader S&P 500.
This top financial stock is trading near record territory. The market is enthused by strong business momentum on a fundamental basis, as American Express is putting up solid results. So, is now a good time to buy the shares?
American Express is a unique operation in the financial services sector because not only does it issue cards to borrowers and extend them credit, but it also runs a payments network and a banking entity that provides savings products and loans. This diversifies revenue streams somewhat, and it gives the business multiple growth engines.
Source Fool.com
