It's a cult. Really. This is a stock devoid of any connection to reality, fundamentals, products, anything. All that matters is that Musk is on the nameplate. Do not bet against the ability of people in a cult to remain irrational in the face of overwhelming evidence. Do not touch the cult.
With entities like BlackRock. There is always on which part of money they manage they are simple followers. Index funds simply follow indexes. They can not decide not to invest according to set out rules.
And when you get to active management, those managers might not either be that good. And it works as long as market keeps going up.
