My thesis on when we hit bottom

It’s simple, and I’ve been over analyzing the markets trying to justify why returning to some appropriate level of valuation is needed.

Here is my thesis: we have hit normal, the bottom, whatever you may call it, when Tesla returns to a valuation that is in line with the value of the company. That simple. The king of overinflated, speculative stocks is still holding strong, even after dropping 30%. Let’s face it: there are 2 strong sides here, those of us that know their value is BS and those that think it’s warranted. The market is rational again when Teslas stock price is rational. Then, and only then, have we hit bottom (or normal here)