Tesla has risen for 10 consecutive days! The old bond king bluntly said "like a MEME stock"
Tesla's stock price has been rising continuously in the past 10 trading days, being referred to as a "MEME stock" and surpassing Nvidia in trading platform activity. Part of the reason for Tesla's stock price increase is the better-than-expected performance in the second-quarter delivery report, as well as anticipation for the Robotaxi event in August. Tesla's stock and options trading volume also lead the pack
Smart Finance APP noticed that Tesla (TSLA.US) has been very popular on the Interactive Brokers (IBKR.US) trading platform. The stock price of this electric vehicle manufacturer has recently soared, attracting numerous investors to join the frenzy of trading Tesla's stock. The trading activity of investors on the IBKR platform has surpassed the long-standing AI chip leader NVIDIA (NVDA.US) in terms of popularity.
On Tuesday, Tesla's stock price rose for 10 consecutive days, with a "straight line price increase," prompting Bill Gross, known as the "bond king," to comment that Tesla "behaves like a meme stock."
The total trading volume of Tesla's stock and options reached 589,600. In the past five trading days, the company ranked first among the 25 most active popular stocks on the IBKR platform.
IBKR's Chief Strategist Steve Sosnick said on Tuesday: "Guess who's back." He stated, "In stock and options activity, Tesla is returning to the top position."
In the past 10 trading days, Tesla's stock price has risen from $187 to $262, partly due to better-than-expected delivery reports for the second quarter, the warming revenue expectations for FSD built on Tesla's AI supercomputing system, and increasing anticipation for the company's Robotaxi event in August.
Sosnick mentioned that in terms of stock price, "Tesla's stock price has been soaring rapidly in the past few days, while NVIDIA has been relatively stagnant."