You're comparing a company that sold 11k cars last quarter to one who sold 11k F-150s last week and got raked over the coals for it.
Tesla is a boutique manufacturer. Their stock price is entirely based on dreams of future earnings, just as Amazon's price has been unnaturally elevated for 15 years despite never turning a profit worth writing home about.
You're saying what I said. Stock prices are ultimately an attempt to predict the future. If the price is vastly higher than would be indicated by what the company is doing now, that means people think it will get much, much larger. Whether or not this is sane or insane depends entirely on how realistic that expectation is.
Tesla is a boutique manufacturer. Their stock price is entirely based on dreams of future earnings, just as Amazon's price has been unnaturally elevated for 15 years despite never turning a profit worth writing home about.