Tesla was, depending on which day you checked, worth $140 billion, or $159 billion, or $134 billion this week. The stock absolutely skyrocketed after earnings last week, before falling nearly as much. Not even well-paid Wall Street analysts know why.
"Many investors are struggling to identify a strong fundamental underpinning for the move," Adam Jonas of Morgan Stanley wrote. He didn't know either, but noted "folks are asking a lot of questions."
Matt Levine, writing for Bloomberg, pointed to Elon Musk's most hated group: short sellers (but its way more complicated than that):
More on Tesla's wild week here.