Tesla (NASDAQ:TSLA) is the darling of the electric vehicle and technology market. The charismatic CEO may announce a supply deal with Hertz (NASDAQ:HTZZ) even when it did not yet finalize. After Hertz failed to confirm a firm deal, TSLA stock still sustained its over $1 trillion market capitalization.

Does Tesla face any risk of a sell-off?

The NASDAQ’s new highs are lifting some stocks. For example, Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT), and Nvidia (NASDAQ:NVDA) account for much of the index’s levels. In addition, speculators are rally behind Rivian (NASDAQ:RIVN), Lucid Group (NASDAQ:LCID), and Fisker (NYSE:FSR). If the tech sector sells off, Tesla may hold its value. Shareholders consider the EV company as a software company that happens to offer automobiles.

Tesla’s CEO disclosed that he would sell Tesla shares in September. More recently, he posted a poll asking his millions of followers if he should sell the stock. Regardless of the vote outcome, Elon Musk would have lowered his position. Bullish traders are betting that Musk wanted the stock to fall so that he could buy shares back at a lower price.

The CEO may diversify his holdings to properly manage his portfolio. He does not need to depend on TSLA stock price for his net worth. The stock valuation risks contract should the Federal Reserve finally put an end to tapering and keeping interest rates artificially low.

Tesla shares did not peak yet. It may risk a drop but has a big fan base to keep shares rising.