Definitely not. When you buy a stock you are buying a part of a company which makes a profit and you should gain or lose via how much profit that company makes. I get that if more people are buying in the price goes up and vice versa however there is an underlying value based upon how profitable the company is.
If I buy FB shares, I can only make money if there's a greater fool who will pay more down the road. If that greater fool never shows up, I'll never make a profit. In other words, it doesn't matter how much a stock
should be worth, it only matters what others will pay for it. Mr. Market has the final say on what is worth what.
While a company has value, much of that value is also based on pyramid schemes. For example, buildings and land. It's only profitable if others will pay more than the buying price. If a bankrupt company doesn't need it, and no one else will buy it, what value is it? Also, intangibles like goodwill. Goodwill can often become useless overnight.
This leads me to believe that much of life is a Ponzi scheme. We try to maximize profit and get off the carousel before we die and go to the giant pyramid in the sky.