The circulating value of stocks, that is, the circulating market value of stocks, refers to the total value of circulating stocks obtained by multiplying the number of circulating stocks at that time by the stock price at that time in a certain period of time; The total market value of stocks refers to the total value of stocks obtained by multiplying the total share capital by the stock price at that time in a certain period of time. The specific calculation formula is as follows:

Market value of stock circulation = current share price × number of shares in circulation;

Total market value of shares = current share price × total share capital;

Among them, the total share capital includes restricted shares and tradable shares. The tradable shares refer to the number of shares that can be traded. Restricted shares are stocks that restrict trading. When the restricted shares are lifted, they become tradable shares.

Therefore, the total market value of stocks is greater than or equal to the market value of circulating stocks, but not less than the market value of circulating stocks.