in Stock Exchange phraseology, are persons who apply for the
allotment of shares in a joint-stock company, not because they wish to
hold the shares, but because they hope to sell the allotment at a
premium. If they fail in this they forbear to pay the deposit and the
allotment is forfeited. (See Bear, Bull.)
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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