I think they'll do fine. It's just that their peak valuation was unreasonably high. Basically many expected it to become the Apple of the automotive world (i.e.

I think they'll do fine. It's just that their peak valuation was unreasonably high. Basically many expected it to become the Apple of the automotive world (i.e. both huge volumes and much higher margins than anyone else) and that's probably unfeasible longterm due to a variety of reasons if their competitors eventually catch up. Obviously Tesla will still be valued at premium even compared to the legacy car makers who transitioned successfully to EV (and that makes sense from a financial perspective e.g. high debt levels and various other obligations). But it really made no sense for Tesla to have a higher market worth than all the other car manufacturers combined..