[lootsauce]

It isn't worth that much. It is however successful at making its stock price go up. These are not the same thing. If one share trades hands at $0.01 above the market then the market cap is outstanding shares * new price. Tesla has something like 185 million outstanding shares. That means a 1 cent change in price nets the market cap of the company 1.85 million. $0.01 = $1.8 million. Does that seem like a reality based means of setting the value of anything? It's about human psychology in the setting of a game at that moment. I would not take a linear extrapolation of that as a meaningful metric of the value of a company.

You can go down rabbit holes of apparent market manipulation, seeming fraudulent financial statements, an unquestioning media, toothless and out to lunch regulators, bubble inducing liquidity pushed by central banks but that stuff doesn't matter until it does. See Wirecard, Enron, Et al.