General Discussion

The economy is a rational construct.
The markets were close to rational for a large fraction of their existence, but not the last 15 or so years.
Applying an irrational metric to a rational system is, well, irrational.
In 2025, TSLA had a market cap of a trillion dollars. They made around $3.8 billion in pretax net income, which a 46.5% decline from 2024. But, the stock price doubled over that time period. If that doesn't display irrationality I can't imagine what does.