True, but a company has to be shown to actually make things that people want. If Tesla didn't sell cars or sold very little, they won't be hyped up as much as they are now.
I think if you look at the numbers, it doesn’t make sense. For Toyota to have a similar market cap at their current PE, they would need to sell something like 95% of the total cars worldwide. So unless people think Tesla will have a worldwide automotive monopoly, they are paying for something other than what they’re doing with cars.
