Skip to main content Skip to main content
Not investment advice. Educational reading. See Disclaimer.
L.1 · BEGINNER · 3 MIN

What Is a Stock?

A stock represents partial ownership of a company. When you buy one share of Apple, you own a tiny fraction of the entire business.

Quiz · 5 questions ↓

Live data

AAPL — Current Price, Market Cap, Today's Change. Open AAPL on the Ledge to see current values.

Key point

Owning a share means you own a piece of everything: cash, buildings, patents, and a claim on future profits.

Compare

Why companies sell stockWhy investors buy stock
Raise money to grow the businessExpect the company to become more valuable
Avoid taking on debtEarn dividends (a share of profits)
Allow founders to cash out partiallyGain voting rights on major decisions

Try it

Look up AAPL in the Ticker view. Find the **market cap** at the top of the page.

Formula

Market Cap = Share Price x Shares Outstanding

Check-in

If a company has a market cap of $3 trillion and 15 billion shares, roughly what is the share price?

Key insight

Market cap tells you the total price tag of a company. It is the single most common measure of company size.

Key point

Going Deeper — what does retained earnings actually mean for you? If you own 1% of a company that earns $100M and pays $10M in dividends, you received $0.1M in cash and another $0.9M was kept ("retained") by the company on your behalf. That $0.9M does not vanish — it can be reinvested to grow the business, used to buy back shares (which raises your ownership stake), or used to pay down debt, all of which can raise the value of your share over time. Whether those choices pay off comes down to how well management reinvests the money — something you will learn to judge later in the path.

Check your understanding

Sit with the ideas.

A company has 1 billion shares outstanding and each share trades at $50. What is the company's market capitalization?

Why:
Try this in paper trading

Open your first paper position

Pick a company you already buy from — Apple, Costco, Disney, whoever — and paper-buy 10 shares. Write down WHY you'd own it: what they sell, why you'd be a customer, why you think the business will still be around in 10 years.

Open paper portfolio →

Practice mode — simulated trades, not investment advice.

Continue this lesson in the app →See it on a real ticker →