I was thinking the same about stock buybacks. It gives the illusion the corporation is doing something to raise the value of the stock. But corporations continue to sell stocks and/or give stock options after the buyback, which continues to dilute earnings. In the end, the hard-earned profits go POOF for a cosmetic fix instead of being distributed to the stockholders.
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Those companies can only do those things because the shareholders allow it, if the shareholders didn't allow such thing, they could vote out the board that allows new stock to be issued or stock options, and put someone else in.
When a company is public the shareholders are the ones that decide things.
The stock options though are normally given CEOs that increase the stock's price by a lot.
Only two issues that I got are : When stock buybacks are done via loans. Getting loans to do stock buybacks should not be permitted. And with the fact that big ETFs don't allow the people that own those ETFs, and thus own the underlying individual stocks, to vote during shareholder's meetings, and instead they vote for them, like Blackrock does with their ETFs.
But public companies are also often organized in a way in which the people who started the company keep themselves in charge and can manipulate things to keep it that way. This is the standard not the exception. Meanwhile crypto has rules and printing money like that tends to be a lot more difficult in many situations, even if consensus exists to do the thing.