What is Taking the Street?
Taking the Street is slang for buying large amounts of stock from institutions so that those sellers have to buy more stock, which drives the price up.
How Does Taking the Street Work?
Let's say John Doe has a Gordon Gekko complex and wants to make some by manipulating the for Company XYZ . He knows that ABC owns about 5% of the company, so he offers to buy their , which they agree to sell. He then calls DEF Fund and does the same thing. Soon, he's bought all the institutions' shares.
The institutions, meanwhile, want to still have a position in Company XYZ, so they go to the market and buy a bunch of Company XYZ stock. This of course drives up the price of Company XYZ stock, making John Doe a few million bucks. He has taken the Street.