n. An investor who purchases shares in an initial public offering with the intention of quickly selling them after the price has risen. (Cf. bull and bear.)

Example Citation:
"Following Monday's frantic debut, 'when issued' shares of Internet highflier Freeserve fell 10p to 195 1 /2 p as stags took profits."
—Geoff Foster, "Glaxo's US victory not to be sneezed at," Daily Mail, July 28, 1999

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