direct stake

[Eartha]

Dear all,

How should I understand "direct stake" underlined in the sentence below?

Does it mean most people didn't own the stock of certain company? or they were not directly concerned with the stock market?

Thanks in advance.

Most Americans had no direct stake in the stock market crash of late 1929 and consequently had no idea what kind of economic tsunami was about to come down on them.

[riquecohen]

Dear all,

How should I understand "direct stake" underlined in the sentence below?

Does it mean most people didn't own the stock of certain company? or they were not directly concerned with the stock market?

Thanks in advance.

Most Americans had no direct stake in the stock market crash of late 1929 and consequently had no idea what kind of economic tsunami was about to come down on them.

Most Americans had no financial investment in the stock market and therefore lost no money in the crash itself.

[e2e4]

Most Americans had no direct stake in the stock market crash of late 1929 and consequently had no idea what kind of economic tsunami was about to come down on them.

Most Americans weren't stakeholders at that time so that they had no idea...