Speculation: Many people became speculators – 600,000 by 1929.Share prices rose way beyond what the firms they were shares were worth only speculation.
Between 1924-29 the value of shares rose 5 times.Historians are fairly much agreed why the Wall Street Crash of 1929 happened.Market into a crash by desperately trying to get rid of their shares before they fall any further. Speculators fuel a bull market by gambling on future price rises, but they can turn a bear.A ‘bear market’ is one where prices are falling.These people are called ‘speculators’ and in 1929 about 600,000 of the 1.5 million shareholders were active speculators.When there is a ‘bull’ market (when share prices are generally rising) people buy shares solely hoping to make a profit.If a firm is doing well, the value of its shares rise, and people can sell them for more than they bought them. In America in 1929 about 1.5 million people owned shares.Companies sell shares as a way of raising money, and they attract buyers by giving them a share (hence the name) of the profit at the end of each year (this is called the ‘dividend’).
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