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The article doesn’t mention (or I’ve missed it) the short squeeze aspect which is definitely one of the drivers. https://investorplace.com/2020/01/play-tesla-s

• jansan 7y ago
  In 2008 Volkswagen was the highest valuable company on the planet due to a massive short squeeze. Something similar seems to be happening right now with Tesla and it will be interesting to see who is on the losing side this time. In 2008 one German billionaire lost all his money and committed suicide.
• dougmany 7y ago
  from that link: >“We are encouraged by Tesla’s execution and think it deserves to be among the world’s most valuable auto companies, and is perhaps the most important auto company in the world given its EV leadership. However, we think investors will be presented with more attractive opportunities to own the stock in the future,” Jonas said. It's that "opportunities to own the stock in the future part" that got me. People just want to own the stock. Tesla has gotten big enough so it is pretty unlikely to fail. Customers love the product, there are several "it is the future" features. People want to own a part of that. I don't think many people are selling because of that. Even if it is really expensive right now.
  • kgwgk 7y ago
    > Tesla has gotten big enough so it is pretty unlikely to fail. Customers love the product, there are several "it is the future" features. People want to own a part of that. Wasn't that also true eight months ago? The stock was trading then at $180 rather than $590.
    • grey-area 7y ago
      The market is often irrational and inefficient.
      • kgwgk 7y ago
        Of course!