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Fortune

Eleanor Pringle

‘Bond King’ Bill Gross says Tesla is the new meme stock with ‘sagging fundamentals’

Tesla Inc. Bill Gross Elon Musk X BYD GameStop GME Nvidia Pimco

Bill Gross, co-founder of Pacific Investment Management Co. (PIMCO) (Credit: Patrick T. Fallon/Bloomberg - Getty Images)

Elon Musk has long enjoyed a loyal band of Tesla shareholders, who have helped boost the company to stock market stardom over the past five years.

However, according to Bill Gross—also dubbed the 'Bond King'—this band of backers are now little more than meme stock traders: the retail investors who followed the likes of RoaringKitty to push GameStop shares to dizzying heights.

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One subscription that gives you access to news from hundreds of sites

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