Another issue is rising competitions from "traditional" car makers. A large fraction of Tesla's valuation comes from the optimistic assumption that Tesla will r

Another issue is rising competitions from "traditional" car makers. A large fraction of Tesla's valuation comes from the optimistic assumption that Tesla will ramp up super fast with flawless execution on its production, presumably from prior experiences of other "big techs". And entrench its position with asymmetric power from its software. Those assumptions are somehow materialized and Tesla is growing very fast, but not in a perfect shape. Tesla's ramp up was slower than (admittedly unrealistic) market expectations so it gave its competitors too much time. FSD still looks 2 years ahead. And Elon now seems completely distracted by Twitter and making collateral damages to Tesla everyday. Given all the contexts, investors' concern seems legitimate IMO.