What is ‘Jitney’

A situation in which one broker who has direct access to a stock exchange performs trades for a broker who does not have access.

A fraudulent activity in the penny stock market involving two brokers trading a stock back and forth to rack up commissions and give the impression of trading volume.

Explaining ‘Jitney’

Jitney FAQ

Why is it called a jitney?

Decades before Uber and Lyft, taxis operating outside municipal regulations were called jitneys, named from a slang expression for a nickel, the original fare.

How much is a jitney?

A single ride costs $2.25. Frequent rider tickets are available for a discounted rate. The A.C. Jitney Association and N.J. Transit provide a free shuttle service each way between the Atlantic City Rail Terminal and all casino locations in the city.

How long does the jitney take?

It takes 4 hours 14 minutes.

Are jitneys legal?

Jitneys aren’t clear cut legal, but they provide a necessary service to underserved areas, and are generally crime- and trouble-free, and thus usually get a pass from John Law.

How does the jitney work?

Jitneys aren’t like your typical bus route. Preset timetable or schedule are absent. Most jitney drivers rent a bus by the day and then use their workday driving up and down the route, picking up passengers. At the end of the day, all the fares the driver collects are his or her take-home pay.

Further Reading

  • Privatization of urban transit: The Los Angeles jitney experience – link.springer.com [PDF]
  • 'Roping the Wild Jitney': the jitney bus craze and the rise of urban autobus systems – www.tandfonline.com [PDF]
  • Mobility niches: jitneys to robo-taxis – www.tandfonline.com [PDF]
  • The West Adapts the Automobile: Technology, Unemployment, and the Jitney Phenomenon of 1914-1917 – www.jstor.org [PDF]
  • Carros por Puesto-The'Jitney'Taxi System of Caracas, Venezuela – trid.trb.org [PDF]
  • THE GROWTH OF GREYHOUND BUS SERVICE IN THE SOUTHEAST: From" Jitney" to Affiliation With a Nationwide System – www.jstor.org [PDF]
  • Owner-Drivers in the Tro-Tro Industry: A Look at Jitney Service Provision in Accra, Ghana – escholarship.org [PDF]