Answer to: Any explanation for the COVID-19 market surge?

One important factor that has not been touched on yet is there was a giant surge of retail investors during COVID. A quick google search comes up with a figure that 15% of retail investors started investing in 2020. With people locked inside and bored, a whole slew of hobbies saw a huge increase in participants and a huge swath of prices of goods related to those hobbies increased with it. From guitars to TCGs. The gamification of the stock market by companies like Robinhood meant that equities also participated in this broader retail trend. And just like those other markets, more people chasing the same number of goods means prices go up.