Your Own Liberty - Investing and Stock News
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Your Own Liberty - Investing and Stock News
No Result
View All Result
Home Stock

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

by
July 11, 2024
in Stock
0
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
Previous Post

Barcelona protesters throw items and spray travelers with water while shouting ‘tourists go home’

Next Post

Costco hikes membership fee for the first time since 2017

Next Post
Costco hikes membership fee for the first time since 2017

Costco hikes membership fee for the first time since 2017

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Popular News

    Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

    Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands

    July 11, 2025
    State Department to begin mass layoffs of about 1,800 employees in coming days

    State Department to begin mass layoffs of about 1,800 employees in coming days

    July 11, 2025
    EU’s von der Leyen survives parliament confidence vote brought by far-right

    EU’s von der Leyen survives parliament confidence vote brought by far-right

    July 11, 2025

    About Proud For Profits

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Main Categories

    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Latest News

    • Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands
    • State Department to begin mass layoffs of about 1,800 employees in coming days
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 yourownliberty.com | All Rights Reserved

    No Result
    View All Result
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy

    Copyright © 2025 yourownliberty.com | All Rights Reserved