As Lloyds’ share price nears £1, is it time to sell the stock?
It’s fair to say that Lloyds’ (LSE: LLOY) share price has defied most investors’ expectations this year. In recent weeks, it’s risen as high as 96p – roughly 75% higher than the price it started the year at.
That’s a huge gain for a large-cap stock in the space of less than a year. And it begs the question – is now the time to consider banking some profits here?
Business conditions for Lloyds have been supportive recently. In the UK, interest rates have remained relatively high allowing banks to earn a healthy spread between lending and borrowing rates.
Meanwhile, while the UK economy has been sluggish, it hasn’t tanked. So Lloyds hasn’t seen a sharp rise in loan…
