I expected Tesla to drop much harder after that crazy day where they got included and the volatility was even more ridiculous than normal in the last few minutes in the market (as the major funds were buying then). It dropped a couple days, but it slowly is gaining again even on days where the general market sentiment was far more negative. Whether the valuation is ridiculous really depends on how much one believes in their future potential to not just be successful as an company in the automotive industry, but also in energy and their technology. The valuation seems rather ridiculous, but who knows Tesla might become as big as it's biggest bulls think it will be.
