Comment by AlexandrB
You're more complaining that investors who don't own a stock have no influence on its price. Which is true, but I don't see a workable way to change that.
The median investor in Tesla, on the other hand, seems to be happy with the situation since they're not selling.
I'm not complaining really, just think it's a explanation that describes the downward sticky nature of companies that can't seem to justify their valuations.
I agree that the median investor feels that way, I just think that the median Tesla investor (apart from passive broad based funds) is a tiny, tiny, tiny part of the market.