Financial Engineering might be a good reason. Most of the buy side analysts and fund managers rely on financial metrics and Elon is very good at cooking books. Also, stock price has nothing to do with performance of company as we have seen in GameStop and other companies. My bet is that TSLA stock is moving up by forcing short sellers and call writers to force close their positions by some private market force most probably fueled by Elon tweet farm. In turn creating momentum upwards.
It is very contradictory, but I feel TSLA stock will fall if the short sellers stop shorting and call writers stop writing this stock. And stop being bag holders of this stock.
suggala|3 years ago
Suppose, I have $10Billion with me. Current price of stock is $1000. Ideally, I could buy 10million shares. Instead, I buy long dated call options to buy 50million shares at a price $1200 probably with $1Billion. And use rest $9Billion in open market to get 9million stock during a decent positive surprise of earnings release. The option writers will scramble to buy stocks in open market for even higher price to cover the options they have written.
Example company doing this https://m.holdingschannel.com/all/stocks-held-by-susquehanna...