Take for example Teslas market cap exceeds that of GM. But GM in 2016 built almost 8 million cars while Tesla built 83,922.
I don’t know. Maybe investors looks at things like Tesla’s top consumer satisfaction rating, or the fact that 500,000 people put down $1,000 deposits on a car sight unseen. Maybe they notice that Tesla is also an energy company (solar cells and storage). Maybe they look at the CEO’s history of starting new businesses and the intelligence of Tesla tech employees and realize that Tesla can start a new division very quickly when there’s opportunity.