Tesla CEO Elon Musk has a lot of detractors and haters. By the same token, the South African billionaire also has legions of loyal fans — many of whom are men with “guy crushes” on him.
Erin Gibbs, a self-professed Tesla bear, is the equity chief investment strategist at S&P Global. She believes a key reason why Wall Street is so eager to give Musk the benefit of the doubt whenever Tesla is in trouble is because of the cult of personality surrounding Musk.
Gibbs: Female investors aren’t interested in Tesla
“A lot of guys have guy crushes on Elon Musk,” Gibbs told Yahoo. “I don’t know any female investor that has an interest in Tesla.”
To be clear, Gibbs doesn’t mean that male investors have a romantic interest in Musk (although some may). She means that despite Tesla’s mounting financial issues, many male investors are happy to give Musk a second chance — mostly because they’re awed by his genius and his vast wealth.
More men than women own Tesla vehicles
This gender divide is also apparent when it comes to Tesla owners. Men own 71% of Model X vehicles, while women own just 29%.
The contrast is even more pronounced when it comes to the Tesla Model S. A whopping of its owners are men, while just 23% are women.
Analyst: Tesla faces ‘a Kilimanjaro-like uphill climb’ in second half
However, this “guy crush” phenomenon doesn’t extend to analysts. The harshest critics of Elon Musk among analysts are men.
Take Daniel Ives, an analyst at Wedbush. Ives wrote that Tesla faces “a Kilimanjaro-like uphill climb” if it wants to hit its profitability targets in the second half of 2019.
Ives says: “Tesla is facing a quagmire as the company is in the midst of building out its next flagship factory in Shanghai with Giga 3, in the early stages of tooling/blueprinting its next Model Y for production slated for 2020, and ramping production of its mid-range and base Model 3 in the US — all while facing a growing cash crunch and high expense structure issue.”
Notably, Ives says Tesla is in an emergency “code red” situation because it will soon burn through the $2.2 billion of cash it has on hand in 10 months.
So, will Elon go down with the ship or make an impressive recovery? The smart money says you’d be a fool to bet against him.
As Tesla goes up in flames this week, Elon Musk's tunnel construction firm, the Boring Company, scored a $48 million Las Vegas contract.
— Samantha Chang (@samantha_chang) May 23, 2019