It has a huge long term impact. There's been hundreds of near dead companies that have had their stock prices pumped and have raised loads of money through an a

It has a huge long term impact. There's been hundreds of near dead companies that have had their stock prices pumped and have raised loads of money through an at the market offering or secondary offering which would've been impossible a year ago. AMC is the most public example, where they dumped their at the market offering into retail investors. But there's hundreds of other examples. Big caps: CCL, TSLA both with multi billion at the markets with little dilution thanks to stock price being propped. Small caps: Literally hundreds of names, check DilutionTracker on Twitter. The parent post is correct in that an increase in the stock price in the secondary market has a material impact on the prospects of the company, especially if it's struggling. Raising money isn't the only mechanism, employee retention is another. In this sense, Soros' positive reflexivity has some merit.