A stock that never rose on fundamentals (Tesla stock at its peak valuation was more than GM and Ford combined, their fundamentals were never that good) will al

A stock that never rose on fundamentals (Tesla stock at its peak valuation was more than GM and Ford combined, their fundamentals were never that good) will also fall regardless of fundamentals. If the argument is about Tesla stock was worth that because of future expectations, then this fall can just be equally described as based on future expectations. Tesla still has a 33.7 P/E ratio, it could still fall another 50% again before the valuation is "worth it" depending on what metric you personally decide to base your investments.