How do you explain the performance of companies like Lyft, DoorDash, Tesla, etc? People have, rightly, been calling them out as examples of companies that are

How do you explain the performance of companies like Lyft, DoorDash, Tesla, etc? People have, rightly, been calling them out as examples of companies that are fundamentally overvalued for years now. But it has only been in the past year or so that the market has actually started to value them appropriately. The market has been extremely irrational since Covid started, but was showing clear signs of that before Covid too.