The problem is that Wall Street has Tesla stock priced like a tech company even though they are really primarily an automotive manufacturer (and they haven't figured out how to do it profitably, and their solar division loses more money than anything). Here is financial data on Tesla and a couple other automotive manufacturers:
Company Market Cap 2019 Sales 2019 Income Price to Book
FORD 23.9B 155.9B 47M 0.80
GM 36.2B 137.2B 6.7B 0.82
Toyota 173.6B 29.93T 2.08T 0.94
TSLA 187.2B 25.58B -862M 18.64
Eventually, Tesla stock is going to burn (much like their batteries) and is going to die penniless (much like Tesla himself). The only question is when, as eventually, the underlying value of the stock is going to have to come in line with the share price of its competitors.