Business and Personal Finance Dictionary

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• QUOTATION (QUOTE)
  
  On a stock market, a quotation combines the highest bid to buy, and the lowest offer to sell, a stock. For example, if the quotation on Daveco stock is "20 to 20 5/8," it means that the highest price that's been offered is $20, and the lowest price that any seller wants to take is $20.625. How that spread is resolved depends on whether the stock is traded on an auction market, such as the New York Stock Exchange (NYSE), or on an electronic market, such as the Nasdaq Stock Market (Nasdaq), where the price is negotiated by market makers.
  
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