AXP: Adding American Express to Investing Ideas (Short Side)

09/26/19 01:21PM EDT

Hedgeye CEO Keith McCullough is adding American Express (AXP) to the short side of Investing Ideas. Below is a brief note. 

A natural pair I like right now is MA Long vs. AXP Short. That means I'd buy MA on red days and short AXP on green days (which it is having today).

Here's Josh Steiner's recent summary point on AXP fundamentals:

Pricing pressure continues to mount on AXP's core business as it bids to gain favor with merchants and defend its target market of affluent, high-income earners from the entrance of large issuers with capital to deploy and greater abilities to compete on rewards.

Sell the bounce,

KM

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.