# Stock

A type of [security](concepts/security.md) which grants buyers access to [income-cashflows](concepts/income-cashflows.md) in a common economic enterprise.

Stocks are valued by the [market](market.md) as a combination of three factors which inform price formation:

1. Momentum
2. Discounted future cash flows
3. Public sentiment

Stocks return [income-cashflows](income-cashflows.md) generated by the enterprise to shareholders via three processes:

1. Dividend payments
2. Stock buybacks
3. Mergers and Acquisitions