Corruption and favouritism have motivated people to protest against the ruling regimes. In Egypt, in particular, the protests brought down Hosni Mubarak's government. To what extent this reduced the corruption and favouritism is less clear. This column sheds light on this problem. It present evidence that daily protest numbers were linked to variation in stocks prices of firms connected to the group in power. This suggests that popular mobilisation and protests have indeed a role in restricting the ability of connected firms to profit from favouritism and corruption.