What actually makes stocks valuable? Is it pure speculation or do they hold intrinsic value?

I’m a young adult looking to start investing in the stock market. I think I have a solid idea of what stocks are and how they are sold, but have had this nagging question since taking my financial literacy class in high school during the whole GME situation. What about shares actually gives them value? Is it just the hope that you can sell it at a higher price? Where does the performance of the company tie into this? My assumptions: - Owning a share of a stock entitles you to a VERY small percen