It can be either overvalued or realistic. Who knows? Perhaps people believe in Elon Musk and how he will rock the world with his genius idea. He is awesome, IMO, but there are more things that need to be done before Tesla truly becomes the number one company on the planet. I feel like he is overconfident and forgets how to manufacture properly.

Even though the stocks may be overbought, Elon Musk's legacies are undeniable because of the revolution started by him. Besides, SpaceX seems do not to have any competitors at the moment. Maybe space adventure is what he truly looks forward to