$1.9 trillion investment firm co-founder calls Tesla a meme stock, here's why

Tesla (NASDAQ: TSLA) has been one of the standout performers in the S&P 500 in the previous month, as it added over 50% to its value, with almost 20% coming from the last five trading sessions alone. However, some think that TSLA has all the specifications of a meme stock.Namely, co-founder of Pacific Investment Management Company (PIMCO), an investment firm that manages nearly $1.9 trillion in assets, Bill Gross, in his recent tweet on X, said that TSLA stock acts as a meme stock as there are no fundamenta ...