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The illegal practice that one firm drives a stock's price higher or lower, while other conspiring firms follow its lead to influence up the price of the stock.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
An illegal practice in which two or more market makers collude in order to artificially inflate or deflate the price of a stock, hoping to profit on the uptick or downturn. One firm will buy or sell large amounts of a certain stock and the second firm does the same, causing a buy or sell frenzy. The supposed competitors then have the opportunity to profit as the market is unaware of their collusion. See also: Insider trading, antitrust.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
Illegal collusion among market makers to manipulate the market price of a stock.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.