Bill Gross’s Janus Henderson Global Unconstrained Bond Fund suffered more than $200 million in redemptions last month, reducing assets to $1.25 billion from $2.24 billion in February.
Lucy Nickerson | Reuters
Longtime investor Bill Gross believes in Elon Musk’s Tesla This is like speculation among retail investors.
“Tesla is behaving like a meme stock — fundamentals are slipping and price is skyrocketing,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon. “But There seems to be a new meme stock popping up every other day now and most are pump and dump.”
Tesla is enjoying a stunning 10-day winning streak, up 43.6% since June 24.
Tesla’s run
Gross, once the most influential investor in the U.S. bond market, seemed to believe that strong delivery reports were not enough to justify such a jaw-dropping rise.
The 80-year-old investor also compared Tesla to very chewy, Zapand “Old Favorites” game station. Chewy recently achieved meme status after internet celebrity Roaring Kitty, who inspired the 2021 GameStop craze, bought a large stake in the pet retailer.
Gross previously revealed that he dabbled in options trading on GameStop and AMC to make quick profits in 2022, calling the stocks “lottery stocks.”
Tesla shares are still up only about 6%, lagging the S&P 500, which has gained 17%.
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