I wonder if this same philosophy applied to stocks as well which has created the roller coaster we have today. Has the idea of day trading and flipping for prof

I wonder if this same philosophy applied to stocks as well which has created the roller coaster we have today. Has the idea of day trading and flipping for profit always applied to the stock market? I have to believe at one point the sole idea of stock ownership was to have the right to receive dividends/rents and that's about it.