Boeing now joins a growing list of companies that have been dwarfed by the Elon Musk-led automaker. From October 2019 through its all-time high on February 19, Tesla shares gained about 260% in an epic rally spurred by solid vehicle delivery numbers, optimism over its Shanghai factory, and strong earnings. Tesla is the highest-valued automaker in the US, and second in the world to Toyota, which has a market capitalization of about $205 billion Wednesday.

In your opinion is this increase in valuation valid? why or why not? Is it sustainable? Please provide a 2 paragraph response.