What I'm trying to say is that some believe the market is up because there simply aren't better alternatives.
Where's that head scratch GIF?
There aren't better alternatives than paying exorbitant prices for companies with serious questions about their finances (and other issues) such as TSLA?
Let's be clear, a share of stock in a public company is a claim on its future earnings. If I knew that my share of company X would earn Y over whatever time period I would care about, I would then discount that future earnings stream by an safe interest rate and arrive at the price I'm willing to pay for it in cash today. I would then factor in what I would see as potential future earnings growth and allow for that into the equation, I would also discount for risks. That's how one values what a share of a company is worth for them.
Traders don't care much about the value of the company, they care about where they see the market price of the share going within the timeframe they care about. This is a rather unique feature of paper assets which are publicly traded, where the price can change every second (or less) and is publicly available.