Really low
prices for
stocks. So named because the
quotes are all
fractions like
7/32,
3/16, etc, which are also the
sizes of
drill bits. Buying stocks at these prices is very
risky.
This phrase will probably leave general usage as the markets move to decimalization.
Note: I did not 'make this up'. I saw it in a Washington Post article about the "Imploding Telecom Sector" on March 25, 2001.