Is Tesla Becoming a Speculative 'Meme Stock?' Longtime investor Bill Gross Compares Tesla's Run to Speculative Plays Like GameStop and Chewy

Benzinga
Benzinga
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Bill Gross, a longtime investor and former Pimco CIO, believes Tesla is behaving like a speculative "meme stock" due to its strong but unsupported price action in recent weeks. Gross notes Tesla's fundamentals have been "sagging" despite its nearly 40% price increase over the last 10 days, triggered by better-than-expected Q2 delivery numbers. He compares Tesla's run to speculative plays like Chewy, Zapp, and GameStop, which have recently gained "meme status" among retail investors. Gross has traded GameStop and AMC options himself for quick profits but views them as risky "lottery ticket stocks."

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