https://youtu.be/djt9mPq_Hck
*@seneca983 a targeted percentage of outstanding shares does become more philosophical as it is political. Overall, if the company controls the number of shares in circulation then what is to say that a stock should be more or less than what that company says. That becomes political and what the governing body (like the federal or state government) can say what the company can issue for shares and how much the public at large (for public companies) to issue more or less shares than that actually exist that the company promises to buyback (if ever in the future.) The politics becomes a stakeholder (not just stockholders) issue of what the company does in benefit of society. In example of GameStop: it is retail gaming where the profit margins are thought to be thinner than other business types; a rise in share price recently could have been an opportunity for GameStop to issue shares and collect money for improving the balance sheet and cashflows. Likewise, society would be better off if GameStop have done so as the company would have less debt (or better debt efficiency to weighted cost of capital) or more investment that would create employment.
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