American Express

Ok, a small break from the risk arbitrage stuff. I noticed today that American Express (Ticker: AXP) was selling off hard. They’re going to fight the antitrust lawsuit that was imposed on them yesterday. This will likely take years to resolve and I believe AmEx should fight it. AmEx is without a doubt, the leader in the corporate biz category and many consumers cherish their generous rewards perks. I couldn’t help, but pick up a few shares of AmEx at $37.55 today. This sell off in AmEx is a bit ridiculous as it reminds me of the recent sell off in Visa (Ticker: V).