Tesla's stock price is soaring like a roller coaster, but for bulls, it is becoming increasingly difficult to defend its trend. The last time this electric car stock had such a rise was supported by double-digit revenue growth. Now the situation seems much dimmer: Tesla's sales are declining, and profits are falling as sentiment around electric cars is low. As of Wednesday, Tesla's stock price soared 44%, rising for 11 consecutive days, setting a record for the longest continuous rise since June 2023. Relevant data shows that the stock's current dynamic P/E ratio is 90 times, the highest since early 2022. Investors say that Tesla's big rise in stock price is not only limited to its performance in electric vehicles, but also betting on Musk's ability to turn it into an AI giant. Investors expect that when Musk finally launches Tesla's highly anticipated autonomous driving technology robotaxi on August 8th, the company's leading position in the field of artificial intelligence will be consolidated.