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A hollow point is type of bullet with a hollow front, which makes it a lighter and therefore faster projectile than heavier ammunition, allowing for greater accuracy in shooting. The other advantage of this type of bullet is that once it hits a target, its front edge (the hollow point) expands upon impact, decreasing penetration range but causing more extensive tissue damage along a lateral spread. Hollow point bullets are popular among medium-game hunters, as they kill target animals faster and more efficiently than traditional bullets.
"1911 with two mags filled with 10mm hollow-points, April 22, 2010" by Iceman7840 is licensed under CC BY-SA.
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References
Fryxell, Glen E.
2008 The Lyman Devastator Hollow Point Bullets. Handloads.Com. http://www.handloads.com/articles/default.asp?id=7, accessed April 8, 2015