I suppose it depends how you define a "trading stock". If you are implying that anything that isn't an investment that you can you set and forget for 30 years, then I suppose at this moment you are correct.
If your definition is more loose than that I would beg to differ with you opinion. All one has to do is look at the chart since Li took over and you realize that we are mirroring the pattern of other very successful companies during their infancy. It is hard to say that this is only a "trading stock" to people that have made 50%, 100%, 200%, or even 400%+ on their money within the year, which is more than most mutual funds/hedge funds/other large-mid caps could provide.
I do agree with you that profitability is the keystone to unlock massive investment $$$$ pouring into this company and we will likely remain under $1 until that happens.