"But what I mean by "shareholder value" refers not to the PPS, but rather the subjective/psychological construct that these folks have foisted upon themselves in the face of an obviously impotent and unresponsive stock price."
In that sense, "shareholder value" has indeed increased.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.