What is 'Turkey'
Turkey is slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities that realize significant losses and unsuccessful initial public offerings (IPOs) could all be called "turkeys".
BREAKING DOWN 'Turkey'
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.