DEFINITION of '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.
BREAKING DOWN 'Drill-Bit Stock'
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.