> Fundamentals will reassert themselves sooner or later

I don't believe that's true, anymore.

TSLA is a pure meme stock. No one is investing in it because they believe in the numerous, actionable lies Musk tells. No one is investing because they think the P/E makes sense. They're doing it because they think the memes are fun, or because they think the people who think the memes are fun are bag-holders, or because they think the memes are fun AND Musk is actually still smart and adding value, etc.

It's the clearest, most obvious case for "the markets are not the economy".