jitney was our Word of the Day on 01/10/2017. Hear the podcast!
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Recent Examples of jitney from the Web
August Wilson's Jitney follows a group of men who try to earn a living by driving unlicensed cabs, or jitneys, in the 1970s.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'jitney'. Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Did You Know?
Jitneys weren't worth a dime - just a nickel. In the early 1900s, jitney was slang for "nickel," but it wasn't long before the term was applied to a new mode of public transportation that only cost a nickel. When they were introduced in American cities at the beginning of the century, vehicular jitneys could be any automobiles that carried passengers over a set route for a cheap fare, but eventually the term was applied specifically to small buses. In the mid-1900s, the word jitney was combined with jeep to create a new coinage: jeepney, meaning "a Philippine jitney bus converted from a jeep."
Origin and Etymology of jitney
First Known Use: 1899See Words from the same year
Financial Definition of JITNEY
What It Is
How It Works
Let's say John Doe and Jane Smith are brokers. They are trying to drive up demand for Company XYZ stock, which is a penny stock that trades on the OTC markets.
To do this, John buys 2,000 shares of the stock and sells them to Jane. Jane then sells them back to John, who sells them back to Jane. Each time the shares trade, the reported trading volume of the shares increases by 2,000. Soon, other investors notice the spike in trading volume, and not knowing that it's because two brokers are acting illegally, decide to invest in the stock.
Why It Matters
Jitneys are illegal because they distort the market. Their name comes from the slang term for anything that is of poor quality or cheaply made.
Seen and Heard
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