Also found in: Idioms.
A highly volatile, highly priced stock. Generally speaking, a high flyer has a high price-earnings ratio and moves significantly up and down in price in a short period of time. High flyers are attractive to high-risk investors because of the possibility for high capital gains in a very short period of time. The increases in price come about as investors expect a positive announcement, such as high earnings. If this announcement does not occur, or is not as optimistic as expected, the price collapses.
A heavily traded stock that sells at a high price-earnings ratio. High flyers go through a period of rapidly rising prices when something about the firms or the industries in which they operate catches the investing public's fancy. Unfortunately, however, most high flyers eventually come to earth with plunging prices when investors' expectations are shattered.