Should You Buy American Express While It's Below $300?
American Express (NYSE: AXP) has been on a roll this year. The stock has soared nearly 60% without too much stress. Shares have only dipped 10% or more once since last fall. It seems like a matter of time before the stock hits $300.
However, some potential roadblocks exist. Personal savings rates among U.S. consumers are at decade lows, and total credit card debt in America is at all-time highs. In other words, people are financially exhausted.
Should investors follow the momentum and buy shares today? Or is American Express poised for a letdown?
Source Fool.com
