It may not be directly related to people buying as in someone buying a Tesla won’t ratchet up the share price that day, but sales absolutely do affect a company’s value once the quarterly reports come out. What people speculate it’s worth doesn’t really matter if they’re not making any money currently and not expected to in the foreseeable future.

I don’t think Trumps endorsement is really worth anything to Tesla unless he plans on sinking a ton of taxpayer dollars into them. The price is now up $11 but can just as easily drop back down as the only people being swayed by the president’s statements are his sycophants.