From CNBC: 2024-07-10 08:17:13

Bill Gross’ Janus Henderson Global Unconstrained Bond Fund saw over $200 million in losses last month, dropping assets to $1.25 billion from $2.24 billion in February. Gross critiques Tesla’s recent surging stock price, stating it resembles a speculative meme stock trend. Tesla’s 10-day rally was triggered by positive Q2 delivery and production numbers. Gross suggests the strong delivery report isn’t reason enough to justify Tesla’s significant stock surge. He compares Tesla to Chewy, Zapp, and GameStop, referencing their movements in the meme stock arena. Gross has previously traded meme stocks like GameStop and AMC options for quick gains in 2022. Despite Tesla’s recent gains, it lags behind the S&P 500, which saw a 17% increase.

Read more: Bill Gross says Tesla is the new meme stock