Troubled lender Bradford & Bingley has joined housebuilder Taylor Wimpey in the 90% club - companies whose shares are now worth just 10% of their peak value over the last three years, research shows.
The firm, which today announced that only a quarter of shareholders took up its new rights issue, is currently 55p per share, down 90% from its peak of 536p, according to a study by financial information company DigitalLook.com. As at 14 August, Barratt Developments stood at 124.75p per share, down 90% from its peak of £12.89, while Taylor Wimpey was at 48p, down 91% from its peak of 518.5p. Andy Yates, director of DigitalLook.com, says: “Some people might see the 90% club as a portent of impending doom but you could equally see it as a positive sign – that the stock market has gone thr...
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