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A security with no monetary value.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A security that has become worthless due to a bankruptcy or for some other reason. For example, when General Motors went into bankruptcy in 2009, its stock continued to be traded over-the-counter. However, because there was very little value to the company, it was treated as wallpaper. That is, the owners of GM stock might as well use the certificates as wallpaper in their houses because the stock was worth nothing.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved