Have Stock Prices become more Uniformly Distributed?

Ahmed Baig, Nasim Sabah, Drew Winters

Research output: Contribution to journalArticlepeer-review

Abstract

We find that: (1) prices cluster on 0¢ and 5¢, (2) prices cluster at the close and intraday, (3) intraday prices cluster more than closing prices with the difference increasing through time, and (4) price clustering declines with time. Our results suggest several paths for future research.

Original languageEnglish
Pages (from-to)1-10
Number of pages10
JournalEconomics Bulletin
Volume39
Issue number2
StatePublished - 2019

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