So go here. Look at the chart for "max."
Since 2010, GM has bounced around $40. It's gone as low as $20 (which is whacky) and as high as $44 but it's at like $40. It's been about $40 for longer than that, too - something not shown here is in the recession when GM took money from the government, they had to kill their old stock and issue new stock so the historic record is shorter than it should be.
Now go here and do the same.
Over the same period of time, Tesla has gone from $20 to $360. So while you've been pulling in 30 cents a share every three months, your buddy who bought Tesla stock, negative dividends and all, has increased his holdings by a factor of 18.
So what's the intrinsic value of Tesla? GM has been making cars for a hundred years. They have a good idea how to go about it. Nobody thinks they become 18 times as valuable over the past six years because of their increasing expertise. Rather, they think that they can sell it for more than they bought it.
Value investing is well out of favor at the moment. Prices are set by what you can sell it for and what you can buy it for. If fewer people want to buy it, you have to sell it for less.