Amex Stock Tumbles 20% From December High Amid Inflation and Rising Expenses

American Express shares have plummeted to $310 after falling 20% from their all-time high of $384.79 reached on December 11, 2025.

The credit-card company's stock has been impacted by rising inflation and higher gas prices, which have curtailed travel and consumer spending.

Rising expenses are also a concern, with a 12% increase in spending on marketing to win new cardholders and technology.

Chief executive Stephen Squeri said the company needs to continue investing in acquiring high-revenue-generating cardholders to maintain revenue growth.