AXP just spoiled the party...
- Thread starter Warrior4g
- Start date
Take a look at the chart and tell me do you expect anything better? Few people have confidence in that company.
AXP is not the whole credit market.
Once 401K is exhausted they will put a mask and go rob a local
7-11 at gunpoint....
More pain to credit card companies or is this a dip buy? Will be interesting to track MA and see if they come out with any company specific bad news in the near future.
Wow, what an ass pounding...$43.23. Wonder if this POS bounces before the close.
American Express is considered to be the gold standard of credit card companies. They have the pickiest policies as far as who they issue credit cards... they only accept high credit scores with few or no deliquencies. They are widely acknowledged in the credit card industry of having the highest quality card holders.
So basically if they turn out to have a lot of deliquencies, then look out below. Companies that issue subprime credit cards to a lot of deadbeats like capital one will get obliterated.
So basically if they turn out to have a lot of deliquencies, then look out below. Companies that issue subprime credit cards to a lot of deadbeats like capital one will get obliterated.
Anyone know when that VISA IPO is about to start? Guess the luster is taken out of that now....
It may not be the whole credit market but its very serious. Credit Card delinquencies are going to skyrocket over the next 12-18 months. AXP could easily be trading down in the low 30's by year end. Only thing that will fix these problems is time. Lowering rates and adding liquidity to pump the markets higher wont do a thing.