Don't know how old you are but I remember the dot.com craze of 20 years ago like it was yesterday. I think every 15-20 years or so another generation of investors comes along that thinks they have figured out new metrics and ways of valuing companies. This is very much looking like the dot.com craze of 2000 and we all know how that ended.
All it takes is some other manufacturer to come out with a new battery technology that's superior, patent their invention and the house of cards will come tumbling down.
If that doesn't happen then there's all the established vehicle manufactures coming out with competing product. EXTREMLY high risk at the current price in my opinion.
Caveat Emptor
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