Secondary investors? What are secondary investors? There the investors who buy shares in a company after an IPO and isn't used by the company to raise money.
Ar these secondary share holders needed? Only to the extent that original shareholders need them to make a profit on their stocks.
Question can stocks be considered a pyramid?
Probably. Especially if not paying dividends.
Question how important are these secondary shareholders especially if they are activist who insist on shareholder value?
Important enough to be an albatross around the neck of any self respecting company.
Question do shareholder activist help or hinder the value of a company?
In all probability hinder the value of a company.
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