The most common excuse or reason that I've seen thrown back at my cynicism about Musk/Tesla, is that it's valuation reflected its status as a tech company, not a carmaker. I'd suggest therefore that to sustain a wildly high valuation, it needs to deliver on the tech front and not the car front. Autonomous driving was that golden ticket, but as time goes on it's becoming clearer that AD is not coming as quickly as Elon said it would, the hardware they've chosen might not be up to the job, and if only for the regulators, their 'lead' in the market is basically just hype.
I can't help but think the shot in the arm TSLA might need is to announce dividends. Sales are good and they're making money now, offering a payback that doesn't rely on liquidating your investment or placing your faith in the word of a shyster, would be sensible, IMHO... having said that, I'd also like to see the whole lot to collapse in an epic sea of fanboy tears. Musk fans have long since been one of the worst bunch of fanboys on the web and I've always found Musk to be a bit of a ****-stain, but to see what he's pandering to and stirring up on Twitter, it goes beyond just stanning for EV's or a car brand.