[TheOtherHobbes]

They're comparable because the value is based on faith/hope in the future, not fundamentals.

The existence of factories is irrelevant if those factories are not spectacularly profitable.

And right now they're barely - not spectacularly - profitable. And the innovator's dilemma applies equally to the rest of the industry, which is already making EVs of its own.

Like everyone else I have no idea if Tesla is a reasonable bet. But it's clear the price today has become completely and irrationally detached from fundamentals to the point where the value might as well be from trading virtual items.

[est31]

Yeah a tulip bulb has some basic real value. You put it into the ground and it grows into a beautiful plant. But is it worth as much as a house in downtown Amsterdam? Certainly not. Tesla is a valuable company, but the current price is totally unjustified.