Tesla went public on 29 June 2010 [1]. Since then, it has traded 1,677 days. It's average (median) movement, from open to close, is -0.01% (-0.09%). There have been 50 days when Tesla stock fell at least 5% and 53 days where Tesla stock rose at least 5%. So about 6% of the time, historically, it's "tanked" or "boomed" by a similar amount. (By coïncidence, the average >=5% movement is +7.452% while the average <=5% movement is -7.458%.)

Note: this is not a traditional presentation of volatility. Its point is to narrate, not power trades.

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So what should you be looking at? One, there is heavy bearish sentiment around Tesla, representing about 30% of its float [2]. Short interest ratio "is the ratio of tradable shares being shorted to shares in the market" [3].

Two, Musk's reality-distortion field just faltered. None of Musk's companies have ever been realistic about timelines. But having a Goldman Sachs analyst publicly counter Tesla just a week after "Musk said the firm’s new vehicle is on schedule to arrive in July" is a new level of assertiveness.

This is salient given Tesla's short-term need to raise boatloads of money. I'd keep an eye on Musk positioning back-ups to Wall Street through political channels, e.g. low-cost 'infrastructure' or 'domestic manufacturing' financing and/or government contracts, while he repairs his warp field.

[1] https://en.wikipedia.org/wiki/Tesla,_Inc.#IPO_and_Model_S

[2] http://shortsqueeze.com/?symbol=tsla&submit=Short+Quote™

[3] https://en.wikipedia.org/wiki/Short_interest_ratio

Disclaimer: this is not investment advice. Please don't be a numpty and trade based on Internet comments.