Pot Is Clean

What happens when an underwriter sells all of his or her available IPO shares? They stand up and say “pot is clean,” and confetti drops from the ceiling and everyone breaks into song.

Okay, we’re not 100% sure about the confetti and the group singing. But we are sure that “pot is clean” is a slang term for “fully subscribed,” which is investorspeak for “all available shares of this here IPO have been successfully sold.”