Doubling Dow

I was just thinking:

On January 14, 2000 the Dow closed at 11,723, with an intraday high of 11,908. Volume – 1,085,900,000.

Today the Dow stand at a similar peak – 11,750. Volume was recently about 2.5 Billion on average.

Now, pretty much the same Dow, same price has doubled in shares traded in 5 years? Are companies splitting shares like crazy?

I came up with only one reason for the 150% hike in shares traded. Speculation.

People are becoming less confident in their moves, trading more frequent then in the years prior and buying and selling on hypes of dips and peaks. The amount of Day Traders has surged.

Todays investors continue to claim that they are in it for the long-term, but something makes me think otherwise.

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