I wonder why TSLA is compared to dot-com stocks. Tesla produce real, tangible things, with sale and resale value; same applies to their factories. They are in the "real sector", while dot-coms were (and are) in the "virtual" services sector propped by ad revenue.
TSLA can be a bubble, but it must be a different kind of it.
Tesla produces real things, yes, any they have already driven change in the car industry. But even if Tesla displaces all other carmakers, which isn't likely, there is a total limit to the car market.
Another reason to tell why Tesla's stock is in bubbly conditions is the timing. Why is it soaring up right now? Is there some event that makes it more likely that people buy cars? No. The current events actually point towards the opposite direction of a recession, where people don't buy new cars. But they are overruled by different events which are more about more about money not knowing where it should go.
This video makes some very interesting points on the "too much money in the markets" question: https://youtu.be/Im0rzTWplwU
I have no idea whether or not Tesla's stock is over-priced. However, it is definitely more than an auto company. It has a solar division, and it make electricity storage systems for home and utilities. Also, there are strong indications it is about to go into manufacturing li-ion cells. It seems to me it is quite possible that at some point it will be worth a trillion.
Let me add it is interesting that people who say Tesla is over-valued so often make this mistake, even though most of what I said is widely known. Perhaps people are being intentionally misleading.
Strange that you would say Pets.com didn't use ads given in your link there is a section about their famous sock puppet mascot with the following quote:
> Pets.com hired the San Francisco office of TBWA\Chiat\Day to design its advertising campaign.
Just because Tesla welds together their primary products doesnt make them any more "real" than the products of Microsoft, Netflix, or Google. Sure, you can't melt down a season of a Netflix TV show and sell it as scrap, but Tesla's value is almost entirely in their IP as well.
Hmm. Did the same in 2008. Somehow I bought it in the summer when it was still cheap, and gold crashed soon, but went back up in the winter, and stayed above my purchase price all the way since then. (I wish I sold it in 2012, though, before the next crash.)