Did he? He recently said the stock was too damn high, but I guess some investors only followed what Jeff Dahn has been working for the past few years (cf. what Reuters is just revealing but you can learn about his results elsewhere too). They expect Tesla's financials to keep improving thanks to price reduction and performance improvements, while competitors realize they haven't even started to dip their toes in EV technology.

It might be too late for the rest of the industry, but this has nothing to do with the recent stock price (this is about battery technology and production ramp, something that very few journalists/analysts have covered correctly while Tesla kept increasing its lead).

I'd counter argue the reason Tesla stock remains so high is due to brilliant PR about 'aims' rather than actual performance. The carrot is always dangling for investors. It's genius that Tesla retains such a high stock price in the face of global realities, not least of which is the current US China trade war headwinds.

Hence the factory in China... which is fully owned by Tesla.

Exactly. That's where the battery raw materials are too.

Or completely irrational investors. Or both, I suppose.

Do you realize that Tesla has been hitting almost all its objectives in terms of production and operating margins?

Check their slides from 2013 regarding battery production in 2020: https://www.tesla.com/sites/default/files/blog_attachments/g...

The competition is simply not coming (most of them are actually going bankrupt, as we speak) and Tesla keeps delivering and improving its margins and cash position.

What's irrational?