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Wash Trade

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.
Wash
A situation in which the profit on one activity or investment equals the loss on another. When an investment is a wash, it is said to break even.

wash trade
A transaction designed to make it appear that a purchase and sale has occurred even though no change in ownership occurred. For example, an investor might simultaneously buy and sell shares in one company through two different brokerage firms in order to create the appearance of substantial trading activity that will draw in other investors. Wash trades are illegal.


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As a public relations and marketing consultant, Weiss has been working with the professional car wash industry for nearly nine years, as well as teaching car washers the charitable and environmental benefits of charity car washing across a 12-state area for the Western Carwash Association and across the nation at professional car wash trade shows.
And an internal Duke investigation--the federal one is still pending-- had dug up only a handful of so-called wash trades, wherein a trader sells energy, then quickly buys it back at the same price to inflate sales, demand and prices.
The stock fell from $30 on July 8, shortly before Duke admitted making the wash trades, to $18.
 
 
 
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