Tesla CEO Elon Musk has recently been exposed as a long-term drug user, and his personal life may affect his company. However, according to analysts, most Tesla investors don't care about such reports at all.Gene Munster, managing partner of Deepwater Asset Management, said most Tesla investors would likely shrug off reports of Musk's drug use.
"A small number of investors will sell off in the coming week, which will put some pressure on Tesla stock," Munster said. "But most investors won't care because if you want to profit from Musk, you have to live with his controversies."
Dan Ives, a technology analyst at Wedbush Securities, holds a similar view.He believes that reports about Musk's drug use are never good news for investors, but are unlikely to have a material impact."Tesla investors are now used to Musk's negative news and are immune to it," he said.
Indeed, Tesla investors have weathered many of Musk’s controversies over the years, from Musk telling X Advertisers to “fuck off” on social media last year to his anti-Semitic posts to his calling a diver who was trying to rescue a boy trapped in a cave a “pedophile” in 2018.
However, Tesla's stock price has been rising.Since 2018, Tesla’s stock price has risen nearly 1,000%. As of Monday's close, Tesla's stock price closed at $240.45, up from where it was before the drug abuse report was released. Last Friday, Tesla shares closed at $237.49.