The stock price is a moot point because I think even Tesla knows it might be inflated, but while it sits there they'll take full advantage of it.
Talking in circles about how the stock price means they need to build x amount of cars is an argument that started to become meaningless as soon as the market decided that the stock price is fine with the delivery numbers that Tesla has been showing the past year.
When you keep hammering away at that specific point it just becomes a personal opinion, because it certainly isn't based on what the actual results are showing.
That being said, part of the stock hype is obviously based on just that. Hype from investors that don't understand what is going on. Those same investors considered battery day 'meh', but stock still hasn't crashed.
Deliveries are being announced today? The stock will probably see a slight bump. Might even climb. But after the split, the $5 billion sale, battery day, progress on all 3 factories they are building, I think we are far past the point of saying 'oh the price is too high and therefore Tesla will fail.'
Remember when Apple stock stayed flat despite their massive profits?
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