Money Uncategorized

Wall Street: Examining The Credit Card Boom

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All four credit card conglomerates saw their stock skyrocket this week on Wall Street.  MasterCard, Visa, Discover, and American Express.  Yes Peggy is very happy.  That was a joke from the Discover commercials, but let’s get back to what matters how much each of the four companies jumped.

MasterCard jumped up 0.75 percent this week.  They are now worth $93.15 a share.  Visa jumped 0.49 percent.  They are now worth $79.17 a share.

Discover jumped 1.07 percent this week.  Discover has had a 6 percent increase in stock in 2016 plus they increased financial loans by 4 percent this week.  Discover has to be the big winner so far this week.  Discover is now worth $56.71 a share.

The final credit card company that stood out was American Express.  American Express jumped 1.31 percent.  American Express jumped more than Discover.  American Express is now worth $64.70 a share.

There is no question that Discover is a fantastic play right now.  They are cheap, affordable for an investor just beginning in the stock market for the first time, and they have a lot of momentum they have been building.  Despite building all that momentum, the company I’d invest in is American Express.  Not only did they make the biggest jump this week, they also are worth more per share than Discover.

Shares for gold, silver, and copper are all down this week.  That’s pretty ironic when you consider all four of the big credit card companies saw their stock improve this week.

We’ll see if these companies can maintain their momentum until the end of the year.  One safe play on the stock market this week is buying shares from any of these four credit card companies.

 

Robert D. Cobb
Founder, Publisher and CEO of INSCMagazine. Works have appeared and featured in places such as Forbes, Huffington Post, ESPN and NBC Sports to name a few. Follow me on Twitter at @RobCobb_INSC, email me at robert.cobb@theinscribermag.com