If it crashes, why would you want to buy it? If reality ever comes a knocking, I would not expect fantasy valuations to hit a second time. EV competition is only increasing and Tesla is no longer especially notable vs the competition.

I suppose Elon would for some financial manipulation games to prove he is the richest, but otherwise seems like a bad deal.

> If it crashes, why would you want to buy it?

For Musk, to stave off an embarassment. Same as the X acquisition into xAI and, most probably, the xAI merger with SpaceX. For his backers, to maintain access to the world's richest man.

Then there is the fact that Tesla operates America's only scaling EV-manufacturing operation.