What is Hit The Bid?
1.
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 fuck out of the stock before you go to the poor house.
"Remberber that piece of shit bio-tech I bought last month?"
"Yeah!"
"They came out with news stating that their cancer drug actually causes cancer. The fucking stock fell out of bed. I had to hit the bid but I still took a bath."
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