I dont think tesla stock is fairly valued . the same way i believe it was undervalued from 2016 - 2019 what happened in my understanding was that long shorts were tired of paying interest for a stock which just wont move down bellow a support so they decided to close the positions and as they did it hit the stop loss of other shorts cascading .into a short squeeze ... but now after the s&p 500 you cant short it cause there isnt much float available with every single fund forced to buy it ........ that is the story of the stock , but i do take offence to the word "ponzi scheme" the cars are real , the solar roof is real , the exponential growth is real ... you are free to draw the line where you want but "ponzi scheme" is a very legal thing and you better have proof.