Stock Markets14 minutes ago (Jun 25, 2021 10:31AM ET)© Reuters. Is American Express a Good Financial Services Stock to Buy Now?
Shares of American Express (NYSE:AXP) have been soaring as of late as financial stocks in general are trending upward. While the stock is nearing its 52-week high, the company has announced new products that could set it up for more long-term growth. Is AXP still a buy? Read more to find out.American Express (AXP) is up about 5% in the past month. Rewind a full six months and you will find the stock jumped an impressive 42% in that span. Go back a full year and AXP looks even more intriguing. The stock is up an impressive 67%.
Though most people assume AXP strictly makes money through credit card transactions, the company does plenty more. As an example, AXP recently launched a checking account service. AXP also provides travel-related services, payment services, and additional financial services.
Is AXP a Buy after its recent ascent? Let’s find out.