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.

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