investors are overleveraged on Elon’s meme stocks and are keeping those stocks inflated

True. However, since the overleveraged investors include almost all of the people effectively CONTROLLING the whole already inherently corrupt system that is the stock market, it has tons of EXTRA insurance against the bubble bursting.

Whether that's enough to protect his meme stocks from any semblance of objective valuation forever remains to be seen, but for now, it's holding steady 😮‍💨