But the bank has net tangible assets of 60p a share, more than double today’s share price.
Despite the obliteration of the Lloyds share price, there are still arguments for owning shares in this bombed-out bank.
Now for the good news: Lloyds shares cratered at 25.43p on 31 July and are up 10.8% in five days.
In short, it’s been a brutal year for Lloyds shareholders (and for its staff, most of whom own shares in their employer).
What’s more, Lloyds shares are down almost two-thirds (61.7%) from their 52-week high of 73.66p, hit on 13 December last year.