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A discussion on a trading site earlier today was about the shares of a particular company for which the price of a share recently dropped below $1.

Today's trading was completely below the $1-range and after losing value the entire day, the stock was worth less at the end of the day than at the start.

However the total volume of the shares traded during the day was about 40 million. So someone made the comment that the company would have raised a lot of money due to the volume.

My question is, would a public company actually somehow gain from the traded volume even if the value keeps going downhill, and if so, what is the mechanism for that?

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    Companies receive money for shares in the IPO or from a secondary offering. The daily volume is buyers and sellers transacting. – Bob Baerker May 9 '18 at 22:47
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No, not at all (unless they were they ones trading).

The public company gets the money when they initally 'create' the shares (from thin air), and sell them on the market (called 'IPO' = "Initial Public Offer", or later simply 'new shares').
Although they could create more shares anytime they want, overuse tends to scare the buyers away, so it won't work.

For example, when Facebook did their IPO in 2012, they created 421,233,615 shares from thin air, and sold them for $38 each, which got them just over $16 billion. That works of course only because there were enough people that were willing to pay $38 for a share.

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