> if a company is expected to be operational, profitable and growing in year 3-year 10, those profits are built into the share price. Certain buyers may be bas

> if a company is expected to be operational, profitable and growing in year 3-year 10, those profits are built into the share price. Certain buyers may be basing their decisions on expected profits in 3-10 years, but this certainly isn’t the only reason that somebody may choose to buy a stock. Also, in that situation they wouldn’t be pricing in the profits that they expect to be made, they would be pricing in what they think the actual probability of that happening is (which would include some probability of those expectations not being met). If the future earning potential of a company is already fully priced in, then you’d have little reason to buy the stock, because it wouldn’t have any room to increase in value.