Warren Owns Shares in a Company Called Gerarch Communications Inc

Warren owns shares in a company called Gerarch Communications Inc.The company's financial performance has been declining over the past few months,and the value of its stock has been decreasing.Warren wants to proactively cut his losses and therefore sells his shares.Lawrence,a trading enthusiast,buys shares in Gerarch Communications because he believes that the share prices cannot go anywhere but up.Which of the following characteristics of a public stock company does this scenario best exemplify?

A) separation of legal ownership and management control
B) legal personality
C) limited liability for investors
D) transferability of investor ownership