Meaning:

Literally, “妖” means “ogre,” and “股” means “stocks.” Investors in the Chinese stock market use this term to refer to stocks whose trading prices are extremely manipulated. The price of such a stock often fluctuates drastically and there is low correlation between its price and the company’s actual performance. For instance, vaccine maker Changsheng Bio-technology, which has entered the process of delisting, surged by more than 30 percent in the last seven trading days before trading was suspended yesterday. It is a typical “ogre stock.”

Example:

A: 最近好象有些垃圾股涨得厉害。

Zuìjìn hǎoxiàng yǒuxiē lājīgǔ zhǎng de lìhài。

The prices of certain small-cap companies that have posted losses have soared recently.

B: 这一类妖股千万不要买，都是游资炒作，最后会跌得很惨。

Zhè yīlèi yāogǔ qiānwàn búyào mǎi，dōushì yóuzī chǎozuò，zuìhòu huì diē de hěn cǎn。

Don’t buy into this type of companies whose stock prices are extremely manipulated. Their prices have been driven up by hot money and will plummet in the end.