The speculator who applies for a new issue of shares without the intention of keeping them is

The speculator who applies for a new issue of shares without the intention of keeping them is called a stag. Stags are investors who apply for shares in a company's initial public offering (IPO) with the intention of selling them quickly for a profit. They do not intend to hold onto the shares for the long term but aim to make a quick profit by selling them as soon as the shares start trading on the stock market. The term "stag" comes from the idea of a male deer, which is known for its quick movements and agility, just like how stags in the stock market move quickly to make a profit.