In this article the researcher aims to literature who really drive the market during COVID-19, by understanding the effect of both retail and institutional investor on the Egyptian stock market, as many researches recently notes in many countries that stock markets driven by retail investors, as fear dominated the financial markets from the successive closures in the countries, and the indicators of the financial markets began to turn red. the article find that when COVID-19 appeared as a result in a dramatically failed in the prices, so the retail investors sell their securities in the market to minimize their losses, so the institutional investor manage their portfolios by maintaining their position without selling and buy from retail the best stocks to enhance their portfolio and try to stop the collapse of the market.