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Not a strong conviction from me but I can see a case for liquidity when you can sell quickly.

I'm not talking about the times it take for selling as much as the absence of delay between buying and selling.

Factors, the world, the firm trading, etc all change daily. Also market makers provide liquidity through buying and selling quickly.

If you had to hold a stock for a long amount of time before selling it, you would find it very hard to buy or sell stock.