Anyone holding more than 99 fractional shares is just a fool IMAO.
Unless they're looking for price speculation and want a higher liquidity (I'm not sure which provides the best liquidity though - given how many exchanges there are with PTs and fractionals).Speculators can speculate on anything, it doesn't mean that it has any real value, though ; )
Edit: IMAO = in my awesome opinion? 
"Arrogant" ^_^