The trades comes weeks after Gross sold options underlying former president Donald Trump's media firm.
Meme stock darlings GameStop and AMC Entertainment have skyrocketed in value in the last few days.
A return to true health in the IPO pipeline could take until next year.
The U.S. IPO rebound has been steadily gaining steam.
His suggestions came as S&P 500 tech companies faced their worst month since September.
The firm's underwriting efforts have typically focused on Asian companies.
Vertiv Holdings has delivered a 553% return.
Trump Media has become the latest way for speculators to use the stock market as a casino.
A market valuation of more than $9 billion contrasts with Trump Media's fundamentals.
Shares of DWAC have held onto a 145% gain this year.
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