- when Covid first came upon us it hurt many businesses and the stock market reflected that immediately
- it was soon recognize that a lot of the tech companies would be unaffected by Covid and in fact could benefit. A lot of money started flowing that way
- additionally, real estate and construction in many areas were uplifted as people had time to focus on their local environment and it was something they could control.
- small business , leisure and travel companies were the most impacted

- now that people can see light at the end of the Covid tunnel they are recognizing that they are over indexed in tech.
- what we are seeing is largely the result of a lot of portfolio rebalancing as travel, leisure, financials, and energy see positive prospects
- others are just getting spooked from the movement and pulling some money out until the dust settles


Going forward
- there is still a lot of capital out there and the stimulus is only going to add to that (Meme stocks have been fun)
- it might be a little rocky for a while (see VIX).
- many companies are making more money than they ever have before. That results in a higher DCF valuation, and justified higher stock price
- The dollar menu will soon be the 1.99 menu (see stimulus)

Disclaimer:
I am not a financial advisor, do your own research and invest at your own risk.