TSLA - 'Bond King' Bill Gross Says 'Tesla Acting Like A Meme Stock' Draws Parallels To GameStop Chewy And Zapp Amid Rising Pump And Dump Trends | Benzinga
The recent surge in Tesla Inc. (NASDAQ:TSLA) stock has led to comparisons with meme stocks, a term used to describe stocks that experience rapid and often irrational price movements. This observation was made by renowned bond manager Bill Gross.
What Happened: “Bond King” Gross took to X on Tuesday to express his views on Tesla’s current stock behavior. He likened the electric vehicle company’s situation to that of a “meme stock,” citing “sagging fundamentals” and a significant increase in stock price.
Despite the 10-day winning streak, Gross believes that Tesla’s recent gains are not justified due to its weakened fundamentals. This includes a year-over-year decline of 5.8% in second-quarter vehicle deliveries, which was still above analyst estimates.
Tesla acting like a meme stock — sagging fundamentals, straight up price action.
But then there seems ...