by Harry Davies on November 10, 2020

Stocks of American Express Up as Biden Wins Presidency

Recent movements on the market indicate that the prices of shares of American Express Company are up 21.39%. The stocks market surged as it was announced yesterday that Pfitzer is almost done working on the Covid-19 vaccine, which is projected to be useful for more than 90% of all people around the world.

The stocks got upbeat from the news from Pfizer inc and BioNTech SE, which sparked the hope for a vaccine that can be used to revive the global economy by helping the global travel landscape and help the recovery of the world economy in general.

American Express is not the only company that went up, shares of Visa, Pfizer, BioNTech, and a huge majority of the companies in the market have seen a huge increase. Most of them had more than a 10% increase, some even more.

Experts are saying that thanks to the vaccine progress, the travel-sensitive, small and medium businesses will be able to better their situation. The shares of American Express Company are leading the Dow Jones Industrial Average, the company went up as much as 21,39%.

As a result of the increasing prices on stocks, leading Stocks Brokers around the world have reported that many people have started selling the shares that they have been holding for a long time now. The announcement of the vaccine added with the outcome of the presidential election of the USA had a huge influence on the changes that are happening on the market right now.

Prices of American Express Over the Last Few Months

American Express Up

The mountain chart shown above indicates the changing prices of American Express Company. As can be seen on the chart, the prices of the shares of the company were up at the beginning of the year. The trend was changed at the end of February when the coronavirus started spreading around the world.

In the middle of the month, as can be seen in the chart above, the prices of the shares of American Express dropped significantly. This happened during the Stock Market Crash of 2020 when most of the companies fell down in prices a lot. After the drop, the prices of shares of the company got a little bit better, however, it fell down again.

Over Spring 2020, the prices of the stocks of the company were very unstable. However, at the beginning of June, the prices of the shares of the company started increasing again. Although it went down several times, it still went up over the summer. The Fall was also very successful for the company, especially compared to the Spring.

As of now, the shares of the company have also doubled from the level of March. Experts are saying that the current surge in the stocks trading market is connected to the development of the Covid-19 vaccine, which was announced by Pfitzer on Monday. As the representatives of the company are saying, the vaccine will be helpful for more than 90% of people around the world.

Last week, Joe Biden was declared as the winner of the 2020 presidential elections. The decision that the American people made had a huge effect on many industries around the world. Experts are saying that the current changes in the market are a result of the 2020 elections outcome.

As of now, the Price/Earning ratio of the company stands at 17.27, which means that it is a very good investment option for investors. However, if you want to buy the stocks of the company, it would be better to wait for a little for the prices to go down again.

The trading volume of the company shares is as much as 17,261,600. The 5-day Change of the prices of the shares of the company is as much as 25.66% and the price is up 23.97 units. The market capitalization of the company also stands quite high, at 94,506,560. The annual dividend and yield paid by the company was as much as 1.78%.

The positive news regarding the Covid-19 vaccine is very important for the market. As of now, because of the second wave of the coronavirus, many of the countries around the world have adopted new restrictive measures. Some of these countries went into full lockdowns, which further complicated the financial situation around the world. The vaccine could be one of the only ways for people around the world to get back to their everyday lives.

The American Express Company is a leading multinational financial services provider company based in the United States, with its headquarters in New York City. The company was established more than 150 years ago and is among 30 components of the Dow Jones Industrial Average. The company is best known for its cards and traveler’s cheque businesses.

By Harry Davies

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