I simplified, but at market value a stock price should approximate the value today of all future cash flows resulting from ownership of a share of stock. At a basic level, cash flow is determined by differences between $ in (revenue) and $ out (cost of goods, salary, marketing, etc.). There's speculation because you have to make assumptions about what the revenue & expense will look like in 2023, 2024, etc., but the fundamentals are still the same.
Anyone working in business is taught that you think about how you 1. Create value and 2. Capture value. Creating value is when you do or create something that someone is willing to pay for. Capturing value is about who keeps how much of the value created between the person buying, the person selling, and anyone else involved in getting something ready to be sold.
If I own a lemonade stand and sell a gallon of lemonade for $5, i've created $5 worth of value. Let's say it took $1 total to buy the water, lemon, and sugar. And then I have another person who I've hired to help squeeze the lemons for lemon juice. Value capture is about who keeps how much of that last $4 between me as the owner and the person squeezing lemons.
If I'm able to pay that person $0.50 per gallon, I have a very profitable business and the value of "stock" in the lemonade stand would be worth more. Anyone owning the company can expect some of that $3.50 per gallon to go to them. If I instead need to pay the person squeezing $2 per gallon, my business is worth less and I'm worth less as the owner because now it's just $2 per gallon that's being "captured". It's just addition and subtraction.
The cost structure of a business (which includes how much value is shared with workers) has much more to do with stock price than cost of liquidation by a big shareholder.