Why is it in general difficult to determine the market price of a private corporation's shares at any point in time?

Question

Quizplus · Accepted Answer

Private corporations do not have organized markets for their shares, which makes it difficult to determine the market price at any point in time. Unlike public corporations, private corporations do not have a large number of shareholders trading shares on a public exchange, which would establish an observable market price. The lack of publicly available information also makes it challenging to accurately value the company.

Why Is It in General Difficult to Determine the Market