The single reason stock prices matter is because the market says it does. If I ever find out who declared that the market should matter, I'll strangle their descendants.
My fortunately brief experience with the market was working for a Fidelity call center about ten years ago. After learning about the fraud that is the DOW, the absurdity of short selling, the inanity of trading options on indexes, and the general fickleness of the market I completely gave up on it.
There were days, after having access to very detailed, up-to-the-second quotes on any index or exchange you could possibly think of, that I would leave work completely ignorant of what the market did that day. Bliss.
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