Yup, doesn't make any sense. Musk's twitter comment about buying the company out got him in hot water, as it rightfully should.
The sense here is that Tesla wants to be a major car maker when electric vehicles take over our roads. And, surely, they have the know-how and the patents to support this claim.
The manufacturing technology they have today is already good enough to make them profitable. The issue is volume (scale). They aren't selling enough cars to cover huge investments.
If EV sales were few times larger, they would already make huge profits and have a stable business.
The price of a stock is an estimate of what happens in the future. It's an average of returns in many possible outcomes (like in a Monte Carlo simulation).
Some paths lead to a future where we have many EVs. Some paths don't. In some paths Tesla becomes successful. In some they default because of cashflow problems. In some paths EVs are expensive and sporty (like current Tesla models), in other they are slower and more practical (like a Nissan Leaf).
For each of these paths you can estimate Tesla's value. The average of all these outcomes leads to the share price you see.
But the discussion about the precise share value is really complicated. Let's forget about it for a moment.
So now back to your issue: why is Tesla price going up all the time? The answer is in the previous paragraph - have you noticed?
At some moment in the future (let's call it T) EVs will become so popular that Tesla's situation will be considered safe. They'll sell a lot of cars and make a lot of money.
With each passing day we're getting closer to that moment.
This means that probability of "Tesla defaults before T" decreases and probability of "Tesla survives to T and may become successful" increases.
So just because of the passing time the share price goes up. It's just pure math. We don't have to know anything about cars to understand this.
