Retail market activity continues to rise: Retail investors now reflect 22% of all stock market trades, the highest since February 2021. This is only below the 2021 meme stock frenzy peak, according to Citadel Securities. Retail's activity is now has now doubled from pre-2020 levels. Additionally, individual investors are now reflecting a record 16% of total single-stock trading volume. This comes as retail is now trading an average of 1.2 billion shares per day, a record high. Retail is taking over.(The Kobeissi Letter)