Language is a funny thing - the meaning of words change over time. Regardless of what Pip initially stood for, now it is commonly used to describe share trading. For reference, please review the 'day trader' thread here on hotcopper, as well as ASX_bets on reddit.
So when you say it is never used to refer to shares, you mean you never use it. Other people however, use it very frequently to refer to shares.
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