ghost stock

Ghost Stock

A stock that is sold short when the short seller has not actually borrowed it. As a result, the ghost stock cannot be delivered to the buyer. It should not be confused with ghosting.

ghost stock

Stock that has been sold short but that has not been borrowed and therefore cannot be delivered to the buyer.

Mentioned in ?

Short Sale

References in periodicals archive ?

Earlier, the company was punished by South Korea's financial regulator because an employee's error sparked a $105 billion "ghost stock" blunder, the company said.

Samsung Securities CEO quits

Seoul: Samsung Securities Co Chief Executive Officer Koo Sung-hoon resigned after the company was punished by South Korea's financial regulator because an employee's error sparked a $105 billion "ghost stock" blunder, the company said in a regulatory filing on Friday.

Samsung Securities CEO resigns after $105 billion stock blunder

The financial incident illustrated various problems with the domestic capital market, including the paralyzed internal control system, pitiable work ethic of employees and the issuance and trading of "ghost stocks." As it turned out later, Samsung Securities had not even known about the dividend chaos until the shares began to be sent to employees almost 24 hours later.