Musk's net worth was $300Bn in November 2024 and he ended 2025 at $726Bn.
... where is this collapse?
It's in the actual currency. It's easy to have a large denomination of dollars if the currency is collapsing due to hyperinflation.
In their sales numbers. You know that market cap doesn't mean a lot, right? Especially for a meme stock.
In the lala land. It's wishful thinking on HN.
FWIW, I don't have a skin in this game - just observing the facts.