hit the bid
1. to quickly sell shares of a stock so as to avoid a terrible financial loss.
this is not the same as simply selling stock in a company which can be offered out in the open market at the offering price. when you hit the bid on a stock your selling it a the bid price which is lower than the offering price. your selling it at the market to the lowest bidder. you don’t care because you just want to get the f-ck out of the stock before you go to the poor house.
“remberber that piece of sh-t bio-tech i bought last month?”
“yeah!”
“they came out with news stating that their cancer drug actually causes cancer. the f-cking stock fell out of bed. i had to hit the bid but i still took a bath.”
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