RE:RE:RE:RE:RE:NCIBMy $10 threshold goes back at least a decade, maybe two. I am conscious of this when buying stocks.
If your stock float is that high (volume of shares) and the value that low (sub $3 for examply) it really does call for a consolidation. Optics matter. I would not even consider a stock trading sub $2, although I have owned a few, and had a handful sink to that point (FRII for example). If they rebound from there you are lucky, hence the lesson learned on that. BTW, FRII has a buyer, so the price just doubled....lol.
Institutions don't want to have to buy volumes of too many "000's". It doesn't have solid "feel". Kind of like playing poker with pesos....all those "000's" but the value is still only 5 bucks.