LCID stock - Price per share - 3 or 4 decimal digits

[Marco]

Hey guys,

Last Friday, I traded some LCID stocks.
The price per share, appeared a few times with 3 or 4 decimal digits.
By the law, Concerning Rule 612 the limit is 2 decimal digits.
Does anyone know why it happens?

 

[Pwmac]

I noticed it too and had an order execute at 2.6474. I thought it was strange but didn't know about rule 612.

 

[Marco]

I found the answer:
LCID became a penny stock: 3 or 4 decimal digits are allowed.

 

[Alex]

The 612 rule is for displaying stock prices: 4 decimal places for penny stocks (under $1.00); two decimal places for over $1. 612 does not restrict on trade orders but orders are rounded to the minimum a trading platform allows.