TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Instagram Outage Disrupts Thousands of U.S. Users 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Tesla's share price has seen a remarkable 50% increase in the past month, leading a fund manager to label it a "meme stock."
The Meme Stock Phenomenon
Longtime investor and fund manager Bill Gross dubbed Tesla a "meme stock" due to the company's share price skyrocketing, with ten days of rise and a 50% increase in the last 30 trading sessions.
The phrase "meme stock" was coined not long ago to characterize a security that has become popular on social media.
The most prominent of them is perhaps Gamestop's ($GME), which has contributed significantly to the success of numerous investors over the last three years by short-selling giant hedge funds.
There is a world of difference between Gamestop and Tesla; in fact, one could argue that the two stocks couldn't be more different.
Teslarati elaborates that since most people now buy video games and gaming consoles online, Gamestop is having a hard time keeping up with the times. Hedge funds should have shorted Gamestop, right? However, retail investors fought back, spearheaded by famous internet investor RoaringKitty.
Tesla's Rollercoaster Year
Investors in electric vehicles and sustainable energy pioneer Tesla, meanwhile, have had their fair share of ups and downs since the COVID-19 outbreak.
Having suffered a steep decline at the start of 2024, the company's stock has recovered admirably, recouping the losses it endured, and is up more than 5% so far this year.
Future Prospects for Tesla
Shares of Tesla have increased in value by 25% throughout the past 10 days. It has a lot of potential catalysts coming up, including the Robotaxi Unveiling Event on August 8, and it began by disclosing that Q2 delivery was better than Wall Street consensus estimates. Q2 was also its strongest quarter in terms of energy deployment.
Regardless, according to Gross, Tesla is "acting like a meme stock" because of its significant valuation growth despite "sagging fundamentals."
On X, Gross stated:
This morning, Tesla stock is trading down just 0.25 percent, but it's still on track for eleven consecutive days of gains.
