When the share price went through the roof a few months ago, that was from all the short-sellers covering their positions, plus a bit of retail FOMO. Tesla is one of the most shorted stocks, and so it is susceptible to wild swings, and it has a lot of people who aren't investors but who "believe in Elon" and buy more and more Tesla shares every month. You don't get this with BMW. At one point a couple of months ago Tesla was worth more than VW, and worth more than Ford & General Motors combined. Which is a frankly crazy valuation for a company which doesn't produce a lot of cars.A friend who’s in the city doing bets on shorts etc told me ages ago that Tesla is a bit of a Ponzi scheme. Deflating the values keeps the scheme from bursting.