[ARandumGuy]

Tesla's stock price has always seemed completely irrational to me. Tesla's market cap is over double Toyota, BMW, Mercedes, VW, GM, and Ford combined. All while selling far fewer cars then any of those manufacturers.

For this market cap to make sense, Tesla would have to eventually become the dominant car manufacturer worldwide. And that just doesn't seem like a reasonable prediction, given that legacy car manufacturers are starting to figure out EVs, and newer EV-focused manufacturers are making huge strides.

I don't know when (or even if) Tesla's stock price will fall back down to Earth. The old saying is that the market can remain irrational longer then you can remain solvent. But I do know that Tesla's stock price is not a good indicator of how well they're doing as a car manufacturer.