It's not a car company anymore, it's an energy company... Ahem, I mean self-driving... Er, maybe robots? ... Okay, that not going so well? How about quantum? That's probably a thing, right?
Tesla seems basically priced based on hype, rather than anything relating to its actual business.
The reason Tesla stock is still high is the same reason Bitcoin is worth anything.
Its a billionaire bubble making machine
Maybe someday they will do half the things Hyundai is doing right now.