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this post was submitted on 09 Feb 2024
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This is a bit of a misnomer. It is illegal for a company to deliberately lower share value, not to make a business move that ends up lowering share value.
Specifically, it's the fiduciary duty of the directors to act in the best interests of the shareholders.
In other words, the consumer doesn't matter, the employees don't matter beyond what the law mandates, and the quality of the product or service doesn't matter until it starts impacting profits or stock values. The only time these actually need to be given any consideration is when it would serve to benefit shareholders, such as with hiring skilled talent or before the company has a reputation for quality products.