Tesla’s stock has dropped by nearly half in three months. Even so, investors are still debating whether Elon Musk's electric-vehicle maker remains overpriced. The company's market capitalization has dropped 45% since hitting an all-time high of $1.

That surge reversed four years of poor performance for Tesla's shares as investors soured on the EV maker's weakening fundamentals and CEO Elon Musk's serial promises of fully self-driving cars and an inexpensive mass-market model that proved an ever-receding horizon.

Musk thinks Tesla's profits can go up 1,000% in five years. Its electric vehicle business is struggling right now, and its new products are taking a while to come to market. The company is unlikely to grow its profits this quickly,