> Can you expand on this? Do you mean the incentive is to push for a constantly higher price because you have to hold on to it? Thinking at a macroscopic level

> Can you expand on this? Do you mean the incentive is to push for a constantly higher price because you have to hold on to it? Thinking at a macroscopic level, in an open market, the price of a security isn't just "what people are willing to pay for it" (contra great-GP), but rather the balance of what people are willing to sell it for and what people are willing to buy it for. When you prevent one half of that price-discovering mechanism from occurring (selling), you can expect an imbalance -- at least for the market as a whole... for specific, individual companies this may be a second-order effect.