The value of a company isn't actually defined by the trading price of its stock. For example, a company with a market cap of $500 billion might be trading at $20 a share, while one with a market cap of $1 billion could be trading at $50 a share.

That said, some investors still prefer to buy round lots (100 shares) of stocks at $20 or less instead of odd lots (fewer than 100 shares) because they're easier to track. Round lots also grant them the option of selling covered calls since a single options contract is tethered to 100 shares to generate passive income from those positions.

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Source Fool.com