Because of the asymmetrical risk of betting against it. It's easy for people to buy a Tesla lottery ticket with the chance (at least in the past, and in their m

Because of the asymmetrical risk of betting against it. It's easy for people to buy a Tesla lottery ticket with the chance (at least in the past, and in their minds still) of 10X or 100X your money. Much like crypto. Or the actual lottery. But those who believe it's overvalued have to either risk their entire investment betting on it to crash within a relatively short period, using options, or risk an unlimited amount (or more likely a quick stop-loss exit) with limit upside and high borrowing costs, if they short sell. I'm pretty damn confident Tesla is overvalued, but I'm not confident I can time when it will drop, nor that it won't go up significantly before then, so I don't really have an attractive way to bet against it.