{"slug":"disadvantages-of-a-stock-split","qid":"tick_by_price","label":"What a one cent tick costs at each price level","post_title":"The Real Disadvantages of a Stock Split","post_url":"/blog/disadvantages-of-a-stock-split#q-tick_by_price","columns":["price_bucket","tickers_count","median_close_usd","tick_spread_bps"],"rows":[{"price_bucket":"Under $5","tickers_count":1241,"median_close_usd":1.75,"tick_spread_bps":57.143},{"price_bucket":"$5 to $20","tickers_count":1567,"median_close_usd":11.1,"tick_spread_bps":9.009},{"price_bucket":"$20 to $50","tickers_count":1603,"median_close_usd":32.12,"tick_spread_bps":3.113},{"price_bucket":"$50 to $100","tickers_count":920,"median_close_usd":69.37,"tick_spread_bps":1.442},{"price_bucket":"$100 to $250","tickers_count":602,"median_close_usd":142.5,"tick_spread_bps":0.702},{"price_bucket":"$250 to $500","tickers_count":203,"median_close_usd":320.51,"tick_spread_bps":0.312},{"price_bucket":"$500 and up","tickers_count":66,"median_close_usd":673.3,"tick_spread_bps":0.149}],"shape":"ranking","sql":"WITH monthly AS (\n    SELECT\n        ticker,\n        argMax(toFloat64(close), date) AS last_close,\n        avg(volume)                    AS avg_volume,\n        count()                        AS sessions\n    FROM global_markets.stocks_daily_aggs\n    WHERE date BETWEEN '2026-09-01' AND '2026-09-30'\n      AND ticker NOT IN ('SPCX')\n    GROUP BY ticker\n    HAVING sessions >= 15\n       AND avg_volume >= 100000\n       AND last_close > 0\n)\nSELECT\n    multiIf(last_close <   5, 'Under $5',\n            last_close <  20, '$5 to $20',\n            last_close <  50, '$20 to $50',\n            last_close < 100, '$50 to $100',\n            last_close < 250, '$100 to $250',\n            last_close < 500, '$250 to $500',\n                              '$500 and up')                                     AS price_bucket,\n    count()                                                                      AS tickers_count,\n    round(quantileDeterministic(0.5)(last_close, cityHash64(ticker)), 2)         AS median_close_usd,\n    round(100.0 / quantileDeterministic(0.5)(last_close, cityHash64(ticker)), 3) AS tick_spread_bps\nFROM monthly\nGROUP BY price_bucket\nORDER BY min(last_close)","computed_at":"2026-10-07T16:08:46.354099+00:00","elapsed":0.003611281}