Elon Musk Fires Back at Bill Gross

Elon Musk has sharply criticized Bill Gross, a renowned bond investor, for his comments likening Tesla to a 'meme stock' with 'sagging fundamentals'. Gross had pointed out Tesla's 10-day winning streak and significant stock price rise, suggesting it was unjustified by the company's fundamentals and likened it to speculative plays like GameStop. Tesla's stock has indeed seen a remarkable increase, although the company's market share in the U.S. EV sector has dipped below 50% for the first time due to rising competition. Musk dismissed Gross' remarks, arguing that Gross is accustomed to traditional investment strategies and does not understand technology-driven markets. Despite the criticisms, Tesla's recent performance has been bolstered by better-than-expected second-quarter deliveries. The debate underscores the differing perspectives on Tesla's valuation and market behavior.