The fact TSLA is valued more then all the auto manufactures combined is absurd. You're naive to think big auto is just going to sit on the sidelines. Big auto has the infrastructure and production lines to mass produce fully electric vehicles for a fraction of the cost of a TSLA, something TSLA will never be able do. Ford is already leading the charge with the F-150 Lightning and converting old factories into fully electric vehicle production plants. TSLA is just as overhyped as Elon Musk.
It goes to show how much excess money is floating around at the moment, if enough fools jump on to the bandwagon then the sky is the limit. Except when you hit space and the whole thing comes tumbling back down. There is a saying when it comes to stocks - the market can stay irrational longer than you can stay solvent. That usually applies to short selling, but if you bought into Tesla at the top there is a very good chance it will never reach that high again. Besides the hype, their earnings were heavily propped up by eco-friendly credits sold to other car companies - who have now shifted to electric and will stop buying them in future. Tesla is in an
extremely competitive market with players that have redeveloped themselves many times over the decades, they will do so again and reverse the drain the Elon is tapping. GAME and AMC shares show a similar level of hysteria right now, but anyone who has been in the investment game long enough knows that the share price is ultimately connected with earnings and will correct to a much lower "normal" long term average. Maybe not next week, maybe not next month, but it always happens.