All this stuff you're saying is correct but sometimes fundamentals just don't matter. After Elon announced CyberTruck, TSLA went on the most illogical gravity defying bull run ever. You could just throw a dart a wall of TSLA calls and buy whatever; you'd make money. This sub was filled with ridiculous yolo TSLA calls.

Back then, the Elon Factor made the stock rise unreasonably. Can Elon repeat that? Personally I think this whole Twitter fiasco has completely stripped him of that magic. Some people think otherwise; or that maybe the contracts NASA gives to SpaceX he'll use some of that money in Tesla - who knows.

It's a gamble.

Also, as much as I enjoy watching Elon get wrecked, Tesla apparently does actually deliver a product and it's somewhat decent. I see Tesla cars everywhere. I guess that's worth something. I don't think Tesla will be completely defeated by anyone else anytime soon.

If nothing else, people could "Theta Wheel" it and make money from other people's (false?) hopes & dreams.