Abstract
The article examines the impact of innova-tions carried out by companies on the price of their shares. Both large and small devel-oping companies represented on the stock market. The impact of innovation activity on their development will vary depending on the commercial potential of new developments and the feasibility of their introduction into circulation. The value is also affected by the capitalization of the company, the volume of the stock market on which it is represented and the risks for the company in the event of failure to develop an innovation. The price of shares of small companies with no revenue reacts significantly more to both positive and negative news regarding the success of in-novative activities. While large companies, through the diversification of innovative pro-jects, achieve price stability and the impact of innovation on their cost is significant only in some cases.
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