{"id":5981,"date":"2024-07-11T12:17:16","date_gmt":"2024-07-11T12:17:16","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/11\/tesla-is-the-new-meme-stock-according-to-one-billionaire-investor\/"},"modified":"2024-07-11T12:17:16","modified_gmt":"2024-07-11T12:17:16","slug":"tesla-is-the-new-meme-stock-according-to-one-billionaire-investor","status":"publish","type":"post","link":"https:\/\/businesstriumphs.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":"<p class=\"\">Longtime investor Bill Gross\u00a0believes\u00a0Elon Musk\u2019s\u00a0Tesla\u00a0is behaving like a speculative play among retail investors.<\/p>\n<p class=\"\">\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<div><\/div>\n<p class=\"\">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\u00a0second-quarter\u00a0vehicle production\u00a0and deliveries numbers that beat analyst expectations.<\/p>\n<p class=\"\">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<p class=\"\">The 80-year-old investor also compared Tesla with\u00a0Chewy,\u00a0Zapp\u00a0and the \u201cold favorite\u201d\u00a0GameStop. Chewy recently gained meme status after online personality Roaring Kitty, who inspired 2021\u2032s GameStop mania,\u00a0bought a sizable stake in the pet retailer.<\/p>\n<p class=\"\">Gross revealed previously that he\u00a0dabbled in\u00a0trading GameStop and AMC options for quick profits in 2022, calling those \u201clottery ticket stocks.\u201d<\/p>\n<p class=\"\">Shares of Tesla are still up just about 6% year to date, lagging the S&amp;P 500, which has gained 17%.<\/p>\n<\/p>\n<div>This post appeared first on NBC NEWS<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Longtime investor Bill Gross\u00a0believes\u00a0Elon Musk\u2019s\u00a0Tesla\u00a0is behaving like a speculative play among retail investors. \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 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":5982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=5981"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5981\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5982"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}