I. ˈ ̷ ̷| ̷ ̷ adjective
Etymology: so called from the emptiness of the sky
1. : having little or no value : unsound , unsecured
blue-sky stock
2. : ill-defined, grandiose, or excessive in scope or object : unrealistic , visionary
mass movements, especially of the blue-sky variety — Robert Shaplen
II. transitive verb
Etymology: blue-sky (law)
: to qualify a security issue for sale in a state under its blue-sky law