Even if registrations were flat, it wouldn’t deserve 5X, but it’s showing negative growth. I haven’t seen anything except vapor ware from Tesla and yet it’s working. The stock is still well over $400 which is $2000 pre-split. You would expect a high level of growth to deserve 5X but maybe I’m just crazy.
They even cut prices on Model S twice in a week! If demand were so great, they would maintain or raise prices. And the drop in 7-day return policy indicates that too many people were returning the vehicles.
Is there anything concrete that is actually showing why they deserve this ridiculous premium?