TSLA has never traded in line with fundamentals. If the price wasn't rational then, why should it be rational now? Also note that the CEO has close ties with g

TSLA has never traded in line with fundamentals. If the price wasn't rational then, why should it be rational now? Also note that the CEO has close ties with government, so some people might be betting on Federal contracts or some kind of bailout. I have a hypothesis that the reason Musk went all-in on Trump was because Trump would keep BYD out of the North American market. There's been whispering for years about BYD building plants in NAFTA nations or perhaps even in the USA (like Toyota and Nissan did), and even with significantly higher costs BYD would probably annihilate Tesla. A higher-end US-market mid-priced BYD EV with 300+ miles of range that undercut the model S would be deadly. If we had global free trade with no tariffs China would absolutely dominate this sector as well, at least for mainstream vehicles.