> And finally, stock market does achieve their goal of allowing company to raise capital. Theoretically, it doesn't matter what happens to the stock price after company has issued their common stock. They got their capital and can do what they want with it. On practical basis, company do care about their stock price for numerous reasons which I won't get into right now.

Yes, and No. It's backwards. There's no `company' which can care or not care about its stock price. The company, as a legal person, can't really care about anything at all.

And after the IPO the shareholders are the new owners of the company, so they do (or should) care about what happens to the company.