Right but I'm still trying to grasp the price of Tesla and in comparison to maybe a Ford stock. There's a huge difference between the two prices and seemingly there are probably more Fords on the road than Teslas. Any thoughts?
The initial tesla spike began post cybertruck unveiling. Calculating the quantity of cybertruck preorders the total market cap of sales is measured in multiple billions of dollars. Later Elon Musk commented they would be unable to fulfill cybertruck demand in 5 years under optimum production conditions which drove their stock price higher.
Tesla is also opening a factory in china and has other side attractions going. Its a similar situation to toyota being credited with being 5 years ahead of its closest competition in developing and deploying hybrids like the prius. A high percentage of innovations and progress in the automotive industry come directly from tesla. There doesn't seem to be much competition from other automakers whom Elon Musk laughed at in the past for hiring many employees tesla previously fired.
Elon Musk/Tesla enjoy other less tangible advantages. Constructing cybertrucks out of the same durable and tough stainless steel as Space X's starship gives both corporations cost savings advantages that come via mass production in higher volumes. Tesla also seems to be aggressively pursuing battery technologies, which could give it further advantages in the future.