TeachMeFinance.com - explain Pinholed
Pinholed -- When a stock certificate is punctured with
numerous pinholes they furnish evidence that the certificate
has had numerous sale tickets (memoranda of sale) pinned
to it that it has changed hands numerous times.
When stock certificates bearing date materially earlier than
that on which purchasers receive them are appearing in large
numbers without pinholes it is taken as evidence of the unloading
of permanent holdings. Were the stock numerously
pinholed the inference would be that it was floating stock
stock in regular use in speculative operations.
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