A tick is the minimum up – or downwards movement in the price of an asset. Before decimalisation, the smallest possible fractional move of a traded asset was 1/16th of a dollar (or other currency), but from the 1970s until about 2000 gradually all markets moved towards using a decimal tick, invariably 0.01.
The tick is something of an arbitrary measure for traders, but with very low value stocks it may sometimes change. For example, when trading shares worth less than $1, the tick value will sometimes be a fraction of a cent. This only applies in a very limited range of cases.
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