Anyone here a bit savvy on stocks? This might be the wrong forum, but as there is such a diverse bunch, I thought I would try it...please move if needed! Thanks.
I am in a bit of a quandry as to the best way forward on this one...to be honest my head is telling me just to forget it and take what I get...but sometimes my head is not the best judge.
I have shitload of Lloydds Bank shares, that I bought when they were a "bargain" about 8 years ago - about 3 and a half quid, they went up to about 6 quid over time, but I didn't really look at them as they were paying a dividend compared to my buy price of 8%.
Sadly, they are now worth about 60 P on a good day. (and no divi!)
They have issued a new rights issue where every one share you currently hold entitles you to buy 1.34 "New Shares" at 37P
What do you think? Will the rights issue force the entire share price down to near 37P, or do you think it will climb?
Personally, I am steering towards cutting my losses, but other than not diluting your share holding, do you think their is any mileage in taking up the offer?
Or, as I am thinking at the minute, just letting the options go and get the difference in cash...I have already been "BURNED" or "FUCKING DEEP FRIED" might be a better description.
Any Lloydds shareholders out there with any advice...like when will they be worth 25 quid a share? in this century or not?
I was probably a complete prick for even pissing around with shares when I know bugger all about them, but they have up until now coughed up some decent dividends..