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letter stock

American  

noun

  1. unregistered stock sold privately by a company so as not to have a negative effect on the price of its publicly traded stock.

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A noteworthy oddity is how Facebook convinced NASDAQ, the land of the four letter stock symbol, to let them list there with a two letter FB moniker usually reserved for the NYSE.

From Forbes

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.