The Honolulu Stock Exchange was a regional stock exchange that ceased operations around 1978 due to lack of trading. In the late 1970s, various factors drew companies to national stock exchanges and away from the HSE including deregulation of fixed commission rates by the SEC as well as improvements in electronic communication technologies.
The title comes from a term used by security traders for investors who buy stocks in amounts of less than 100 shares at a time (usually by smaller investors with less money to invest), as opposed to richer or institutional investors, who can more easily afford to buy stocks in much larger quantities.