Castrated male sheep, cattle, goats, or swine that have reached sexual maturity prior to castration.

Investors who buy new shares when they hit the market with a view to an almost immediate sale and profit. When southern Life listed around the late 1980s, the shares were over-subscribed and there were such massive volumes within a few days of sellers at a profit, that The Receiver stated publicly that he was going to track down all the STAGS and charge them income tax.

An investor who applies for a new issue of shares with the intention of selling them (at a profit) as soon as the secondary market starts dealing.

Investors who apply for shares on a new issue, hoping to sell them at a profit immediately afterwards.