TSLA is easily justifiable. Their entry into other markets, like home-installed batteries (PowerWall), solar roofs, HVAC, home automation, trucking, robo-taxis, etc. all make it very attractive. Even just selling their batteries at retail stores like an Energizer or Duracell would add a few billion to their revenue stream. They’re a solid 5 years ahead of competitors in terms of battery and self-driving capabilities.

Besides, even if none of those bets pay off, they still sell 3-5 million cars a year at over $50k per unit, and waiting lists for more buyers and don’t pay a dime to a dealer network. Once their fully autonomous self-driving software is released, I see them at a $1 trillion valuation (roughly $1000/share) easily.