It's potentially not a bubble but a bet against other car manufacturers who are a) supposedly five years behind Tesla on some of the EV technology b) strugglin

It's potentially not a bubble but a bet against other car manufacturers who are a) supposedly five years behind Tesla on some of the EV technology b) struggling to catch up So, either Tesla continues to gain market share and expand into the SUV and pickup market or they end up licencing their technology - a win either way. The clock is ticking in Europe as far as diesel bans coming into force so they don't have forever to just do business as usual.