> Logic simply cannot explain it --- so the fallback is a conspiracy of some sort. One that Wall Street must have a stake in.
... Wait, is your contention that every time the markets price something incorrectly, there must be a conspiracy? Tesla is a meme stock, one of hundreds, albeit the biggest. There's no need for a conspiracy; the markets are just actually not all that great at pricing, especially where there's significant retail involvement.
Tesla is a meme stock, one of hundreds, albeit the biggest.
Nothing about the valuation makes any sense and it hasn't for years. Tesla is no longer a startup. Market performance history is readily available from which one should be able to make rational judgments.
Tesla only has about 10% of world wide *EV* sales. Yet it's market cap exceeds all major auto manufacturers *combined*.
As you point out, it's the scale and magnitude of the disconnect from reality maintained over a long period of time that puts Tesla in a league of it's own.
... Wait, is your contention that every time the markets price something incorrectly, there must be a conspiracy? Tesla is a meme stock, one of hundreds, albeit the biggest. There's no need for a conspiracy; the markets are just actually not all that great at pricing, especially where there's significant retail involvement.