--- title: "Tesla gets called a ‘meme stock’ by longtime investor and fund manager" description: "Tesla has been called a \"meme stock\" by investor Bill Gross due to its recent surge in share price. Tesla's stock has seen ten consecutive days of growth and a 50 percent increase in the past 30 tradi" type: "news" locale: "en" url: "https://longbridge.com/en/news/208494888.md" published_at: "2024-07-10T15:35:20.000Z" --- # Tesla gets called a ‘meme stock’ by longtime investor and fund manager > Tesla has been called a "meme stock" by investor Bill Gross due to its recent surge in share price. Tesla's stock has seen ten consecutive days of growth and a 50 percent increase in the past 30 trading sessions. Despite concerns about "sagging fundamentals," Tesla's shares have rebounded and are up over 5 percent this year. This classification as a meme stock is significant given the recent success of Gamestop, another meme stock. Tesla has been called a “meme stock” by longtime investor and fund manager Bill Gross, as shares of the company have exploded to ten consecutive days of growth and a 50 percent bump in the past 30 trading sessions. A meme stock is a more recently used term to describe a security that gains popularity through social media. Perhaps the most notable is that of Gamestop $GME, which has been a major contributor to many investors’ success through the short-squeeze it put on large hedge funds over the past three years. Gamestop and Tesla are significantly different; some could even say the two stocks are on polar opposite ends of the spectrum. Gamestop is a struggling company dealing with a world where games are now digitally acquired, and game consoles are purchased online, at least for the most part. Ideally, Gamestop seemed like a logical company to short for hedge funds, but retail investors fought back, led by notable online investing personality RoaringKitty. Tesla, on the other hand, is a leader in electric cars and sustainable energy and has given investors plenty of ups and downs since the COVID-19 pandemic. However, the company’s shares have rebounded nicely since a rough drop at the beginning of 2024, canceling out the losses it felt, and are up over 5 percent this year. > Tesla continues stratospheric run as FSD, AI take main focus Over the last ten days, Tesla shares are up 25 percent. It started by reporting a delivery beat over Wall Street consensus figures for Q2, its strongest quarter in terms of energy deployment, and has plenty of catalysts lying ahead of it, especially the August 8 Robotaxi Unveiling Event. Still, Gross says Tesla is “acting like a meme stock,” as it has increased in value considerably despite “sagging fundamentals.” Gross said on X: > Tesla acting like a meme stock — sagging fundamentals, straight up price action. > > But then there seems to be a new meme stock every other day now. > > Most are pump and dump. > > Chewy. Zapp. And old favorite GME. > > — Bill Gross (@real\_bill\_gross) July 9, 2024 Tesla stock is going for its eleventh-straight day of gains, but is currently trading down just 0.25 percent this morning. *I’d love to hear from you! If you have any comments, concerns, or questions, please email me at* *joey@teslarati.com**. You can also reach me on Twitter* *@KlenderJoey**, or if you have news tips, you can email us at* *tips@teslarati.com**.* The post Tesla gets called a ‘meme stock’ by longtime investor and fund manager appeared first on TESLARATI. ### Related Stocks - [TSLA.US - Tesla](https://longbridge.com/en/quote/TSLA.US.md) - [TSLL.US - Direxion Daily TSLA Bull 2X Shares](https://longbridge.com/en/quote/TSLL.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Slate pricing to be revealed in June, ‘Blank Slate’ truck still expected in the mid-$20k range | Slate Auto, an EV startup, will reveal pricing for its "Blank Slate" electric pickup in June. The model is expected to b | [Link](https://longbridge.com/en/news/276367534.md) | | Official Slate Truck Pricing Is Coming In Late June | Slate Auto is set to reveal pricing for its affordable electric pickup truck, the "Blank Slate," in late June. 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