The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

Tesla is the new meme stock, according to one billionaire investor

by admin July 11, 2024
July 11, 2024
Tesla is the new meme stock, according to one billionaire investor

Longtime investor Bill Gross believes Elon Musk’s Tesla is behaving like a speculative play among retail investors.

“Tesla acting like a meme stock — sagging fundamentals, straight up price action,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon on X. “But then there seems to be a new meme stock every other day now. Most are pump and dump.”

Tesla is on a stunning 10-day winning streak, up a whopping 43.6% since June 24. The rally was initially triggered by Tesla’s second-quarter vehicle production and deliveries numbers that beat analyst expectations.

Gross, who at one time was the most influential investor in the U.S. bond market, seems to think that the strong delivery report wasn’t enough to justify such an eye-popping run.

The 80-year-old investor also compared Tesla with Chewy, Zapp and the “old favorite” GameStop. Chewy recently gained meme status after online personality Roaring Kitty, who inspired 2021′s GameStop mania, bought a sizable stake in the pet retailer.

Gross revealed previously that he dabbled in trading GameStop and AMC options for quick profits in 2022, calling those “lottery ticket stocks.”

Shares of Tesla are still up just about 6% year to date, lagging the S&P 500, which has gained 17%.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Walmart is opening five automated distribution centers as it tries to keep its grocery dominance
next post
The Fed may soon cut interest rates. That could make your next trip abroad more expensive.

Related Posts

Dave & Buster’s plan to allow betting on...

May 7, 2024

Microsoft reveals its first quantum computing chip, the...

February 21, 2025

Paramount and Skydance inch closer to a merger...

April 30, 2024

Former FTX chief Sam Bankman-Fried seeks no more...

March 4, 2024

How Delta made itself America’s luxury airline —...

June 27, 2024

Home prices hit record high in June on...

August 30, 2024

The trucking industry hits the brakes with tariffs...

April 24, 2025

Boeing’s Starliner losses top $2 billion after spacecraft...

February 6, 2025

Forget a new bathroom, just fix the faucet:...

March 4, 2024

Microsoft fires back at Delta after massive outage,...

August 8, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Microsoft says goodbye to the Windows blue screen of death

      July 1, 2025
    • Home Depot is buying GMS for about $4.3 billion as retailer chases more home pros

      July 1, 2025
    • Home Depot is buying GMS for about $4.3 billion as it chases more home pros

      July 1, 2025
    • Google makes first foray into fusion in venture with MIT spinoff Commonwealth Fusion Systems

      July 1, 2025
    • The Best Five Sectors, #25

      July 1, 2025
    • Pullbacks & Reversals: Stocks Setting Up for Big Moves!

      July 1, 2025

    Categories

    • Business (1,276)
    • Politics (3,883)
    • Stocks (1,480)
    • Uncategorized (45)
    • World News (1,269)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved