I think even this isn’t as hurtful to major shareholders - the ones that have decisionmaking power - as you’d hope. They typically have more information and pay more attention than the small fish. They’d offload their shares earlier, for longer, as to not disturb the price too much, leaving the remainder to hold the bag once shit hits the fan. The stock market enables that. They’ve extracted a shit ton of money by steering the company over the last couple of decades. The ones that would really bear the brunt are the shareholders that never had any decisionmaking power, and the company’s workers.