In what looks like a revolt of the average joe against the billionaires, the stock market this week was rocked by an event organized by people on REDDIT and other social media networks to buy stock in GameStop and AMC. The stunt turned some into millionaires as the mob action made the stock rise while causing hedge funds who "shorted" the stocks to lose billions. Average people used stock apps like RobinHood to buy up shares and drive up the stock.
Apple stock has surged to an all-time high before publishing first-quarter results this week. Leo says that Apple's profit is hitting over $120 billion this quarter, fresh off high sales of the iPhone 12, iPads, and Apple subscription services launched in the last half of 2020.
With Apple becoming the world's first 2 Trillion company and Jeff Besos, Bill Gates and others from the tech realm topping the most richest people in the world, Technology is actually holding up the stock market right now.