$10/shr is both a Magic & Tragic number.
Why, The Number is both Magic & Tragic?
Many Money Managers stay clear of stocks trading under $10/shr for obvious reasons, once shares of a company fall below $10/shr they turn into a tragic death spiral. However Money Managers do take notice when shares of companies cross that $10/shr magic number on the upside.
A strong chart showing a steady climb towards $10/shr = Turnaround story, something at the company has turned around from Gloom to Bloom. these stocks are the ones that grab the most attention. Once they cross $10/shr new Money Inflows start to ramp up quickly and the shares make a new leg up into the teens.
But as always there are wolves in sheep clothing so don't be fooled by low float stocks that make one day wonder climbs above $10/shr only to fall back to the Abiss that is called Pennyland "Under $10/shr".