What actually makes stocks valuable? Is it pure speculation or do they hold intrinsic value?

I’m a young adult looking to start investing in the stock market. I think I have a solid idea of what stocks are and how they are sold, but have had this nagging question since taking my financial literacy class in high school during the whole GME situation.

What about shares actually gives them value? Is it just the hope that you can sell it at a higher price? Where does the performance of the company tie into this?

My assumptions:

\- Owning a share of a stock entitles you to a VERY small percentage of the company. So small that you have essentially no influence over any decisions or strategies of the company.

\-Sometimes stocks will pay dividends to their shareholders based on their profits, but this is the exception rather than the rule.

\- You can sell a share for whatever price you want given that someone will buy it at that price. Stock exchanges like the NYSE help match sellers with buyers and list a stocks price based on what people are willing to buy/sell it for.

\- Sometimes even when companies aren’t profitable, the stock price will go up because people expect the company to be very profitable in the future.

So my question is there any way that stock prices and company performance are directly linked? It seems like nothing can stop investors from deciding that they actually like companies that lose money (like the GME situation).

Is it because there are financial institutions or ultra wealthy people that have enough money to buy enough stocks so that they actually DO have actual influence over how the company is run?