Fair valuation

People here complain all the time that the stock is undervalued, that the price is manipulated, ...

I don't really understand this amd I am wondering what a fair price is for these people?

At the moment Nio is valued at 1/7 of Byd valuation. Byd is valued at 1/3rd of Toyota though.

So for me the valuation seems pretty fair, maybe even a little overvalued comparing to byd. Of course there is a china stock effect, and byd is likely worth at least half of Toyota's valuation or even more.