tv. to assault a person; to gang up and beat a person. : What kind of creeps would whipsaw an old buzzard like that?
tv. [for the stock market] to reduce the capital of investors by frightening them into selling when stock prices are low and encouraging them to buy when prices are high. (Securities markets.) : A lot of people were whipsawed in the recent market volatility.
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw-Hill Education.
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The real problem is that there was a housing bubble and people were whipsawed because they bought at the top of the market.
Furthermore, in divorce cases, the government often gets whipsawed.
Getting whipsawed by unruly currency markets is no fun at all.