Slang for an investment that yields disappointing results or
turns out worse than expected. Failed business deals, securities
that realize significant losses and unsuccessful IPOs could
all be called "turkeys". Biotechnology always seems to serve up some of these it seems on a monthly basis. Not so much for big Pharma.
For an individual investor, a turkey could be a speculative
equity investment in a startup technology company that
subsequently goes bankrupt. For a corporation, a turkey could
be the purchase of a smaller company that ends up producing
much less revenue than anticipated, making it an investment
that gobbles up the company's profits.
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