Almost 4000 fewer companies listed now than in 1998.

According to Money.CNN there are almost four thousand fewer companies listed in the stock market now than in 1998. Stocks doing good. Fewer companies but activity high. Stock prices relatively stable with poor earnings. Almost no human trading firms, robots are trading. This gives the appearance that something is going on that doesn't benefit companies or stock holders but favors trading. High trading with no appreciable increase in value looks like an ulterior motive or goal is driving the market. Can higher trading with no corresponding value increase mean anything other than a bubble?