Does there have to be logic in an investment? Was their logic in Amazon the first 10 years? Valuations, as much as many of us believe need to be based on fundamentals, simply are not. Rather, an idea.. like Bitcoin. Musk, electric cars before they were a common topic. Musk in general actually.. he is one of the biggest visionaries of our lifetime. People believe in him, the product, the future, and don’t care how you or I feel about P/E.
The entire market is a vehicle (no pun intended) that we each can use to grow our wealth. The majority of investors will lose money, get frustrated, and leave the market. Very few survive.
But whichever vehicle (stock) they chose to put there hard earned money in, doesn’t need to make sense to any else but that person. If a high flier risk on trade like TSLA is it, I say, you likely have a high threshold for volatility or a commanding belief in Musk.
The market is nothing more than a gambling arena based on ones ability to use all the information at hand to predict the future.
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