Svmuu News: The Kobeissi Letter posted on X platform, stating that in May, a stock portfolio favored by retail investors outperformed a portfolio favored by mutual funds by 16 percentage points—the largest single-month gap since records began in 2018. This retail-favored stock portfolio includes large-cap tech stocks, encompassing the "Magnificent 7" and semiconductor stocks. Previously, in April, retail investors had already achieved a 14-percentage-point excess return. The two consecutive months combined have set the largest historical gap, surpassing the previous record of 13 percentage points set during the initial meme stock frenzy in late 2020. During the same period, the total amount of funds retail investors used for semiconductor options contracts reached 4.9 times the historical monthly average, setting a new all-time high and exceeding the previous record set in March 2024 by approximately 25%.