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First and foremost, the stock market is not the economy. Second, stocks are primarily traded on their expected future value, not current profits, hence why companies like Tesla have a price to earnings ratio that is absurd.

Tesla's stock price makes zero sense in any plausible scenario. I understand the narrative, but unless Tesla becomes the only car company on the planet, it can't be worth 10x Ford

Robin Hooders + solar energy + funds that buy Tesla after 4 x profit profitable quarters + China + ...

Still doesn't explain the crazy valuation

Market cap is set by marginal prices, so supply of uninvested capital isn't super relevant and might even increase volatility due to lower liquidity.

The bond market is many times bigger. There is much more that could come to the stock market.

Where else? Derivatives and commodities,bonds,etc...