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Akdom Posted 17 years ago
what does "break the buck" mean? the price of its stock fell blow the 1 dollar line record?
Vocabulary
Broke the buck
Financial stocks continue to be among the worst hit, despite the trillions that governments around the world are spending to restore the system to working order. Citigroup, which is fending off fears of outright nationalization, broke the buck Thursday, falling as low as 97 cents before closing at $1.02.
what does "break the buck" mean? the price of its stock fell blow the 1 dollar line record?
Top answer
I have not seen the use of "broke the buck" used for a company's stock price. It is normally used for the safest of investments, called "money market" funds. They are supposed to have a constant value of $1 per unit, and earn a very low rate of interest.
- I have not seen the use of "broke the buck" used for a company's stock price.
- It is normally used for the safest of investments, called "money market" funds.
- They are supposed to have a constant value of $1 per unit, and earn a very low rate of interest.
- The investments usually are backed by very short term loans (a day to a week) or so.
- If the short term loans fail so much that the value falls below $1, that is extremely bad.
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1 Answers
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I have not seen the use of "broke the buck" used for a company's stock price. It is normally used for the safest of investments, called "money market" funds. They are supposed to have a constant value of $1 per unit, and earn a very low rate of interest. The investments usually are backed by very short term loans (a day to a week) or so. If the short term loans fail so much that the value falls b
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