American Express Stock (NYSE:AXP): Too Much Negativity Already Baked In Shares of American Express (NYSE:AXP) have been on a rocky ride of late, shedding more than 30% of its value from its nearly-$200 per-share peak. Undoubtedly, fears of recession have worked their way into the shares of credit card giants, with American Express (Amex) taking one of the bigger hits to the chin versus its big-two peers. Though American Express could take a slightly larger hit to the chin as we move into a recession year, I''d argue the damage done to the stock already bakes in too much negativity.