While I would prefer this, I think the insto's know AXP is boxed in and will hold the SP down at this level until the CR is done. In the absence of any retailer buying they can just dribble out enough shares to hold the SP sub-10c and keep maximum pressure on the board. Why provide the cash at 30c when you can provide it a 9c?
Either way it looks like the insto's see the problem as a management/cash problem that is fixable and not a fundamental market problem like say YOW is suffering from. They will put in the cash needed and keep backing the company which is very positive. Still high risk, but AXP is going to be given another chance to get things right with a new management team.
AXP Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
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