Just because it is (was) close to all-time high doesn't mean it's high. Look at the P/E[1]. The market does not think it will grow long-term.

[1] And yes I know it's artificially lowered due to the mark-to-market gains in investments, but even without those it's low compared to peers.

Their stock price won’t matter once OpenAI launches the paperclippers.

Enron's stock was pretty good, too.

Stock price is not a measure of success.