"Tesla stock is dropping precipitously; in December it reached a high of $488 per share, but after yesterday’s trading it stood at $225. But even with that decline, Tesla’s stock is still wildly overpriced. …
But Tesla’s stock price was always based on the cult of Musk; people and institutions bought it because they believed that other people would keep buying it and paying more and more for it, simply because of how awesome Elon Musk is."