On paper, companies with a high P/E ratio can be justified by expecting their profit is going to skyrocket in the future.

You could maybe sorta argue that for Tesla a few years back. Even if you did, the Cybertruck debacle, Elon firing and unfiring the supercharger network people, and other antics of his, should convince you otherwise.

There’s just no way to justify it anymore, even assuming there ever was. The fascade is gone and even if the company finds a stable footing, the stock still has a long way to drop.