Tesla is among a small group of stocks whose recent surge has pushed the broader market higher, causing worry among some analysts. This according to a recent article in The Wall Street Journal.

The group of stocks, which includes Amazon and vaccine maker Moderna Inc., pushed the Nasdaq to new records last month and helped bolster the S&P 500 from its March low. But the rally, against the backdrop of a struggling economy, reportedly has analysts concerned that the gains could suddenly reverse, “sending major indexes into a tailspin and even destabilizing the economy because of how many investors hold the stocks.”

The article cites comments from retired hedge-fund manager David Rocker, who worries that large share gains of unprofitable companies signal a manipulation of the market and “excesses in the financial system even more extreme than the late 1990s dot-com bubble.” Rocker argues that the government and central-bank stimulus response to the pandemic-related shutdown is adding to already high debt levels and will do harm to the economy.

“This is going to end in tears and do enormous damage,” according to Rocker.