I would not bet against Elon Musk. I am long on Tesla.
i don't know of 500,000 people who would pre-order a car from any other carmaker. http://www.thedrive.com/sheetmetal/13007/over-a-half-million-people-have-reserved-a-tesla-model-3
He is also avoiding being short-sighted on filling these orders; his manufacturing needs to be a machine that can scale, not just to current orders but beyond.
I, for one, continue to buy when it dips below $260....