{"id":5225,"date":"2024-07-11T15:12:17","date_gmt":"2024-07-11T15:12:17","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/07\/11\/tesla-is-the-new-meme-stock-according-to-one-billionaire-investor\/"},"modified":"2024-07-11T15:12:17","modified_gmt":"2024-07-11T15:12:17","slug":"tesla-is-the-new-meme-stock-according-to-one-billionaire-investor","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/07\/11\/tesla-is-the-new-meme-stock-according-to-one-billionaire-investor\/","title":{"rendered":"Tesla is the new meme stock, according to one billionaire investor"},"content":{"rendered":"

Longtime investor Bill Gross believes Elon Musk\u2019s Tesla is behaving like a speculative play among retail investors.<\/p>\n

\u201cTesla acting like a meme stock \u2014 sagging fundamentals, straight up price action,\u201d the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon on X. \u201cBut then there seems to be a new meme stock every other day now. Most are pump and dump.\u201d<\/p>\n

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Tesla is on a stunning 10-day winning streak, up a whopping 43.6% since June 24. The rally was initially triggered by Tesla\u2019s second-quarter vehicle production and deliveries numbers that beat analyst expectations.<\/p>\n

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\u2019t enough to justify such an eye-popping run.<\/p>\n

The 80-year-old investor also compared Tesla with Chewy, Zapp and the \u201cold favorite\u201d GameStop. Chewy recently gained meme status after online personality Roaring Kitty, who inspired 2021\u2032s GameStop mania, bought a sizable stake in the pet retailer.<\/p>\n

Gross revealed previously that he dabbled in trading GameStop and AMC options for quick profits in 2022, calling those \u201clottery ticket stocks.\u201d<\/p>\n

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

This post appeared first on NBC NEWS<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Longtime investor Bill Gross believes Elon Musk\u2019s Tesla is behaving like a speculative play among retail investors. \u201cTesla acting…<\/p>\n","protected":false},"author":1,"featured_media":5226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-5225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/5225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=5225"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/5225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/5226"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=5225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=5225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=5225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}