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jitney

noun
jit·​ney | \ ˈjit-nē How to pronounce jitney (audio) \
plural jitneys

Definition of jitney

1 : an unlicensed taxicab
2 [ from the original 5 cent fare ] : bus sense 1a especially : a small bus that carries passengers over a regular route on a flexible schedule
3 slang : nickel sense 2a(1)
Did You Know? Example Sentences Learn More about jitney

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Did You Know?

Jitneys weren't worth a dime - just a nickel. In the early 1900s, jitney was slang for "nickel," but it wasn't long before the term was applied to a new mode of public transportation that only cost a nickel. When they were introduced in American cities at the beginning of the century, vehicular jitneys could be any automobiles that carried passengers over a set route for a cheap fare, but eventually the term was applied specifically to small buses. In the mid-1900s, the word jitney was combined with jeep to create a new coinage: jeepney, meaning "a Philippine jitney bus converted from a jeep."

Examples of jitney in a Sentence

Recent Examples on the Web

 There is a motif of animals transported on vehicles, such as a placid duck riding in the back of a jitney and a nervous sheep in a cage being hauled by a tractor. — Peter Keough, BostonGlobe.com, "On the mat, on film, on his way, on the road," 5 July 2018 For travel to Jersey City and New York, many residents rely on the jitney buses that run along several of Union City’s north-south arteries, and cost between $1.50 and $5 a ride, depending on the destination. — New York Times, "Union City, N.J.: Close to the City, but Still Affordable," 9 May 2018 The new motorcars led to a jitney craze in cities across the country. — Gary Kamiya, San Francisco Chronicle, "SF bad guys get away in a car. In 1915, that was big news," 2 Mar. 2018 Long before Uber came around America had jitney drivers using their personal vehicles to cart paying passengers around. — Ed Wallace, star-telegram, "Uneasy Rider," 21 Apr. 2018 America’s first carpooling system can be traced back to the early 1900s, when jitneys – private drivers looking to make extra money – started popping up in Los Angeles. — Story Hinckley, The Christian Science Monitor, "Are your Uber and Lyft accounts worsening traffic?," 4 Apr. 2018 In San Francisco, a fleet of 600 jitneys began carrying passengers from the Ferry Building to the Castro for 5 cents. — Gary Kamiya, San Francisco Chronicle, "SF bad guys get away in a car. In 1915, that was big news," 2 Mar. 2018 This incident proved the undoing of the jitney gang. — Gary Kamiya, San Francisco Chronicle, "SF bad guys get away in a car. In 1915, that was big news," 2 Mar. 2018 Donahue's Dodge Charger crashed into a jitney bus near the center tube of the tunnel. — Chris Chavez, SI.com, "Jets Linebacker Arrested, Charged With DWI In Lincoln Tunnel Crash," 26 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'jitney.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of jitney

1899, in the meaning defined at sense 3

History and Etymology for jitney

origin unknown

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More Definitions for jitney

jitney

noun

Financial Definition of jitney

What It Is

A jitney is an illegal scheme in which two brokers trade a stock back and forth in order to increase the trading volume and earn commissions. In some circles, a jitney is also scheme in which a broker performs trades for another broker who does not have access to a certain exchange.

How It Works

Let's say John Doe and Jane Smith are brokers. They are trying to drive up demand for Company XYZ stock, which is a penny stock that trades on the OTC markets.

To do this, John buys 2,000 shares of the stock and sells them to Jane. Jane then sells them back to John, who sells them back to Jane. Each time the shares trade, the reported trading volume of the shares increases by 2,000. Soon, other investors notice the spike in trading volume, and not knowing that it's because two brokers are acting illegally, decide to invest in the stock.

Why It Matters

Jitneys are illegal because they distort the market. Their name comes from the slang term for anything that is of poor quality or cheaply made.

Source: Investing Answers

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