HLTH bid/ask spreadIn case people are wondering.. as I was... why HLTH trades at a 5 cent bid/ask spread... its because the stock is part of the FINRA Tick size pilot program along with 1400 companies. The program mandates that for certain securities, such as HTLH, the bid/ask be 5 cent instead of the normal 1 cent.
What I don't understand is why would Management EVER agree to this? This takes away SOO Much from liquidity. A 2.5% spread is nuts. It wouldn't be a big deal if this was a $1000 / share stock but $1.85/share... that's a big hit for people buying.
Information on the program is here:
https://www.finra.org/investors/tick-size-pilot-program
NYSE listing of companies participating in the program is here:
ftp://ftp.nyxdata.com/Tick_Pilot/Tick_Pilot_Historical/NYSE_Group_Tick_Pilot_Assignments.txt