e.x. A $1 increase on a $1 stock purchase yields a 100% increase, a $1 increase on a $100 stock price only yields a 1% increase. In this example, you should have purchased $100 worth of the $1 stock.
e.x. On the other hand, if have some $x less than $100, but you think the $100 stock is going to increase at a faster rate than the $1 stock, you should purchase x/100th of a share of the $100 stock.
[1] A stock's price is meaningful for two reasons. The sum of value of all shares defines the market capitalization for a company. Also, price can be used to exclude buyers in a socioeconomic way. This is rare, most companies will split the stock every so often to keep the price affordable. An example of an exclusionary stock is Berkshire A, which is currently priced around $180,000. Nonetheless, at the end of the day, as an investor, the only thing that matters is your expectation for the percent change in price.