Jim Cramer on American Express: "It's Prized"

American Express Company (NYSE:AXP) is one of the stocks that Jim Cramer shared insights on. Cramer noted that the stock usually falls off after earnings. He commented:

“Then on Friday, there’s American Express, which is another stock that tends to sell off when it reports, no matter how good the numbers are. That’s why I always tell you to wait until the selling subsides if you want in this time… I don’t know what they’re thinking about, the sellers… They’ve been wrong for 150 points. Look at that stock. Listen to the call.

This company has a unique beloved product that young people cherish. What’s not to like? Steve Squeri, CEO, one of the great ones, well, he’ll have a terrific call and he will, you know what, he will tell us about why American Express card has now become not a product of a different era, our parents’ era, but a product of everyone. Everyone wants the thing. It’s prized. That stock’s going higher.”

American Express (NYSE:AXP) provides credit cards, banking, payment solutions, and travel services to consumers and businesses. The company also offers merchant services, loyalty programs, fraud prevention, and expense management tools.

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Disclosure: None. This article is originally published at Insider Monkey.