What Is a Tobacco Tax/Cigarette Tax? A tobacco or cigarette tax is a tax imposed on all tobacco products by various levels of government, often with the alleged goal of reducing tobacco use or at least generating revenues earmarked to fund related healthcare programs. The terms “Tobacco Tax” and “Cigarette Tax” are used interchangeably. Key
What Is Today’s Low? Today’s low is a security’s intraday low trading price. Today’s low is the lowest price at which a stock trades over the course of a trading day. Key Takeaways Today’s low is the lowest price that a stock trades in that day.It can be difficult to predict a stock’s intraday low.
What Is a Toggle Note? A toggle note is a type of payment-in-kind (PIK) bond in which the issuer has the option to defer an interest payment by agreeing to pay an increased coupon in the future. With toggle notes, all deferred payments must be settled by the bond’s maturity. Key Takeaways A toggle note
What Is Tokenized Equity? Tokenized equity refers to the creation and issuance of digital tokens or “coins” that represent equity shares in a corporation or organization. With the growing adoption of blockchain, businesses are finding it convenient to adapt to the digitized crypto-version of equity shares. Tokenized equity is emerging as a convenient way to raise
What Is the Tokyo Commodity Exchange (TOCOM)? The term Tokyo Commodity Exchange (TOCOM) refers to a commodities futures exchange located in Tokyo. The exchange was founded in 1984 as a result of the merger between the Tokyo Textile Exchange, the Tokyo Rubber Exchange, and the Tokyo Gold Exchange. It is the largest exchange of its
What Is a Toll Revenue Bond? The term toll revenue bond refers to a municipal bond that makes principal and coupon payments from toll revenues. Capital from bondholders is used to construct projects, and money generated from them—toll road revenue—is used to pay them back. These bonds are a subcategory of highway and transportation bonds
What Is a Tombstone? A tombstone is a written advertisement of a public offering placed by investment bankers who are underwriting the issue. It gives basic details about the issue and lists each of the underwriting groups involved in the deal. The tombstone provides investors with some general information and directs the prospective investors to
What Is a Tontine? Tontine is the name of an early system for raising capital in which individuals pay into a common pool of money and receive dividends based on their share of returns from investments made with the pooled money. As members of the group died, they were not replaced with new investors so
What Is Top-Down Investing? Top-down investing is an investment analysis approach that focuses on the macro factors of the economy, such as GDP, employment, taxation, interest rates, etc. before examining micro factors such as specific sectors or companies. Key Takeaways Top-down investing focuses on the macro factors of the economy, such as GDP, before examining
What Is a Top Hat Plan? A top hat plan is a type of employer-sponsored plan that is unfunded. The design of the plan is to provide deferred compensation to the eligible employee group. However, participants in a top hat plan are typically high-ranking executives and directors. How a Top Hat Plan Works Top hat
