You're right, what I meant is that the share price doesn't affect the finances of the company (eg. a company that sells widgets makes the same amount of money whether their stock is worth $1 or $100000). As you point out, the share price should in theory reflect the value of the company (bankrupt company -> share price of $0), but a fluctuating stock price doesn't really change the value of the company itself (excluding shares that it owns, obviously).