That'd mean they sell for more than the advertised price given how the stock went up after launch.

Overpriced relative to what? Phones that are produced at scale by the millions and so can have much lower prices due to economy of scale? That's going to be the case with anything produced in low volumes, but that doesn't mean they are overcharging for it.

Most tech products are sold at somewhere around 3-4x what it costs the company to make them.