Which of the following is true about the secondary market for financial instruments?

Group of answer choices

Proceeds from the sale of stock in the secondary market go to the company that issued the shares.

Proceeds from the sale of stock in the secondary market go to the holder of the shares.

People who use the secondary market for a security are subordinated under people who have access to the primary market in the case of liquidation.

Prices for a stock in the secondary market will be lower than prices for a stock in the primary market, because the primary market is more important

None of the other answer choices are correct.