Elon's companies are the epitome of the hype-cycle-based stock market manipulation. Take something somewhat useful (EVs, self-driving cars, reusable rockets, ...), spend a bunch of VC cash on building an MVP and advertising, make that advertising overpromise every feature by 300% and just send it. People will buy the stock because of the hype, then buy the product (if applicable) because they own the stock, then be forced to "still like the truck tho"/"COLONIZE MARS" for years, regardless of the actual quality (or lack thereof) of the product, because otherwise their stocks might go down.

it's predicated on the fact that if people believe it line go up so people believe