Fractional investing allows you to own as much or as little of a share in a company as you want. You can own a share of Tesla, Apple or Google for as little as $1!
When purchasing fractional shares, you can purchase based on dollar amounts rather than purchasing whole shares.
As a result, fractional amounts can only be traded via market orders.
As the US market operates on a books and records basis, shares are grouped at the bank level who report the holdings to the exchange. The fractions are split between you and the brokers' clients - you and others using Douugh.
Finally, voting rights can’t be split with the same level of granularity as shares, so owning a fraction of a share will not allow you to vote.
They do, however, pay dividends proportional to the amount you own.