here's a more detailed article with a chart back to 1980: https://corpgov.law.harvard.edu/2017/05/18/looking-behind-the-declining-number-of-public-companies/ ht

here's a more detailed article with a chart back to 1980: https://corpgov.law.harvard.edu/2017/05/18/looking-behind-the-declining-number-of-public-companies/ https://corpgov.law.harvard.edu/2017/05/18/looking-behind-th... This article suggests it's all micro-cap stocks: https://www.institutionalinvestor.com/article/b15nlcmsmn57fx/why-vanguard-isnt-freaking-out-about-fewer-public-companies https://www.institutionalinvestor.com/article/b15nlcmsmn57fx...