Of all the value shares I’ve written about since March’s market meltdown, Lloyds Banking Group (LSE: LLOY) has been the most disappointing. That’s because the Lloyds share price has probably performed the worst of all my deep-value share picks.
The Lloyds share price is in free-fall
When I first urged investors to take a look at its shares, the Lloyds price stood at 31.3p. I described this as “as an option on the bank’s future” and “for the price of a packet of crisps, you gain part-ownership of a £22.6bn business.”
Guess what? The share price has continued to decline, setting new records as it slowly slides into the abyss. As I write on Thursday, Lloyds shares closed at 24.58p. This means that they’ve dived a further 21.5% since I first picked them from the FTSE 100’s bargain bin.
Of course, the protracted decline of the Lloyds share price has … Read more