Drill-Bit Stock
A term used to describe shares that trade for prices less than one dollar. The fractional prices are comparable to the diameter measures of drill-bits found in a hardware store. Investopedia Says:
Drill bit sizes are described by fractions of an inch whereas drill bit stocks would be reported as fractions of a dollar. Due to the decimalization of stock prices by major stock exchanges, drill-bit stock prices are no longer seen. Related Terms:
Decimalization
Exchange
Penny Stock
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