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Finance Dictionary and Glossary of Investment Terms
Used to describe place or operation in which unscrupulous salespeople call and try to sell people speculative, even fraudulent, securities.
A telemarketing firm using high pressure sales tactics. These tactics are sometimes used by stock brokers who try to sell investors the firm's house stock.
An unflattering term used to describe a fraud scheme in which salespeople are hired to call unsuspecting individuals and push investment opportunities. These high-pressure calls are often used to pitch worthless or nonexistent securities. These operations typically consist only of a large number of telephones in a single room, giving rise to their name.