Taking the Street

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Taking the Street

The practice in which a hedge fund buys the entire inventory of a stock from several banks and brokerages with the intention to sell it in a short period of time. The hedge fund takes the street knowing that the banks and brokerages will need to buy the inventory soon for their clients. This increase in demand raises the stock's price. The hedge fund is then able to sell the stock to the same banks and brokerages (and others) at a profit.
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The three teens were part of a group of nine girls who had taken the street drug ecstasy at a wedding reception on March 15.
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