China Approves First Import Batch of Nvidia H200 AI Chips Amid Strategic Shift 
ANTA Sports to Acquire Major Stake in Puma in €1.5 Billion Deal, Signaling Strategic Revival 
Alibaba-Backed Moonshot AI Unveils Kimi K2.5 to Challenge China’s AI Rivals 
Micron to Expand Memory Chip Manufacturing Capacity in Singapore Amid Global Shortage 
Baidu Shares Surge After Official Launch of Advanced Ernie 5.0 AI Model 
Elon Musk Reportedly Eyes June 2026 SpaceX IPO Timed With Planetary Alignment and Birthday 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
ASML’s EUV Monopoly Powers the Global AI Chip Boom 
C3.ai in Merger Talks With Automation Anywhere as AI Software Industry Sees Consolidation 
Anthropic Raises 2026 Revenue Outlook by 20% but Delays Path to Profitability 
Volkswagen CEO Oliver Blume Faces Crucial Year as Investors Demand Turnaround Results 
Ericsson Plans SEK 25 Billion Shareholder Returns as Margins Improve Despite Flat Network Market 
Intel Stock Slides Despite Earnings Beat as Weak Q1 Outlook Raises Concerns 
Puma’s Historic Rivalry With Adidas Enters a New Era as Anta Deal Signals Turnaround Push 
LVMH Investors Watch Earnings Closely as Luxury Recovery Faces New Challenges 
SoftBank Shares Surge as It Eyes Up to $30 Billion New Investment in OpenAI 
Google Halts UK YouTube TV Measurement Service After Legal Action 
Tesla's share price has seen a remarkable 50% increase in the past month, leading a fund manager to label it a "meme stock."
The Meme Stock Phenomenon
Longtime investor and fund manager Bill Gross dubbed Tesla a "meme stock" due to the company's share price skyrocketing, with ten days of rise and a 50% increase in the last 30 trading sessions.
The phrase "meme stock" was coined not long ago to characterize a security that has become popular on social media.
The most prominent of them is perhaps Gamestop's ($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.
