Global Trends Today
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
Global Trends Today
No Result
View All Result
Home Editor's Pick

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

by
July 11, 2024
in Editor's Pick
0
Tesla is the new meme stock, according to one billionaire investor
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

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

Walmart is opening five automated distribution centers as it tries to keep its grocery dominance

Next Post

Peter Welch becomes first senator to call for Biden to step aside

Next Post
Peter Welch becomes first senator to call for Biden to step aside

Peter Welch becomes first senator to call for Biden to step aside

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    • Trending
    • Comments
    • Latest

    Hacker lexicon: What is a supply chain attack?

    June 11, 2021

    Losing Depop to US ownership makes the British tech sector look secondhand

    June 11, 2021

    Andrew Lloyd Webber to sue the Government if theatres are not fully reopened from June 21

    June 11, 2021

    Microsoft’s Kate Crawford: ‘AI is neither artificial nor intelligent’

    June 11, 2021
    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    0

    Reply to “Reply to Whitehead” by Desvousges, Mathews and Train: (4) My treatment of the weighted WTP is biased in favor of the DMT (2015) result/conclusion

    0

    The 40 Weirdest (And Best) Charts We Made In This Long, Strange Year

    0

    Will The Debate Over $2,000 Stimulus Checks Help Democrats In Georgia?

    0
    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    May 9, 2025
    Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    May 9, 2025
    Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    May 9, 2025
    $2.6M Placement and SPP to fast-track China entry and sales

    $2.6M Placement and SPP to fast-track China entry and sales

    May 9, 2025

    Recent News

    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    NorthStar Gaming Announces Receipt of Management Cease Trade Order

    May 9, 2025
    Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    Brunswick Exploration Announces Brokered Private Placement for Gross Proceeds of up to C$2.5 Million, with a Lead Order from a Strategic Investor

    May 9, 2025
    Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    Drill Contract Awarded for Elizabeth Hill. Technical Visit Completed to Define Drill Targets

    May 9, 2025
    $2.6M Placement and SPP to fast-track China entry and sales

    $2.6M Placement and SPP to fast-track China entry and sales

    May 9, 2025

    Disclaimer: GlobalTrendsToday.com, 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.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved

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

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved