It may do this or that on the announcement, but if growth stops (arguably already has) and there is no hype for years, it's likely going to grind down to a normal valuation with time.
The passive investing / market cap weighted ETF complex tends to help big valuations stay big, but a company like Tesla still needs that sharp shot in the arm followed by frenzied buying occasionally in order to stay aloft (be it by traders, retail participants, shorts covering, etc).
I suppose they could replace Musk with another hype salesman, but the "hate" that Tesla gets is a big part of these upside shock cycles for the stock, because the ticker is a siren call for short sellers, who are ultimately guaranteed future buyers.
The passive investing / market cap weighted ETF complex tends to help big valuations stay big, but a company like Tesla still needs that sharp shot in the arm followed by frenzied buying occasionally in order to stay aloft (be it by traders, retail participants, shorts covering, etc).
I suppose they could replace Musk with another hype salesman, but the "hate" that Tesla gets is a big part of these upside shock cycles for the stock, because the ticker is a siren call for short sellers, who are ultimately guaranteed future buyers.