Despite reporting its best quarterly earnings ever last month, Tesla's stock is down almost 40 percent since the beginning of April. That's not the way this sort of thing usually works. When companies tell investors that they made a lot of money, and expect to continue to do well, their stock price usually goes up. 

Right now, Tesla literally can't make cars fast enough to keep up with demand, which isn't great, but still--lots of people want to buy Teslas. That's definitely a good thing if you're an investor. Of course, that's not really why Tesla's stock price is down. 

Tesla's real problem has almost nothing to do with its cars. Tesla makes great cars. (I speak from experience--I have a Model S, and it's great.) It has no problem selling every one it can make. Largely, that's because its CEO, Elon Musk, is one of the most effective salespeople of all time. 

It's pretty well known that Tesla has no marketing budget or PR team. Instead, it just relies on Musk to promote the company--which he does largely on Twitter. It's been an effective strategy as the company has become the most valuable automaker, ever. 

At the same time, relying entirely on the tweets of a chaotic personality like Musk is, well, risky. Sometimes the things he tweets are funny. like memes or fart jokes. On the other hand, sometimes the things he tweets don't reflect well on the company. Sometimes they are offensive. Sometimes the things he tweets aren't true. Sometimes the things he tweets are securities fraud

None of that is good for the CEO of a public company the size and reputation of Tesla. At best, those things are a distraction.

Speaking of distractions, do you know what else happened in April, the same month Tesla reported its record earnings and saw its share price drop? Musk said he was going to buy his favorite toy--Twitter--financed in part by a loan guaranteed by his Tesla shares. Investors were definitely not excited about that distraction.

Add to that Musk's very public spat with Twitter over things like content moderation or whether the company is lying about the number of spam bots that make up its monetizable daily active users. Then, there's the recent report that Musk's other company, SpaceX, paid $250,000 to settle a sexual harassment allegation. All of it is a distraction, and that's becoming increasingly bad for Tesla. 

Look, Musk is obviously very invested in Tesla, and I'm not just talking about the shares he owns. Tesla is the thing he says he is most passionate about, and he has somehow managed to accomplish what no other automaker has--to make electric vehicles a thing people actually want to buy. Musk was able, by the sheer force of his will, to make Tesla succeed. 

There are, however, an increasing number of people who are turned off by Musk's antics. Many of those people won't buy a Tesla because of Musk. That's an obvious problem. It turns out that the thing that made Tesla so successful could also be its downfall. 

In the long run, Tesla isn't Elon Musk. He doesn't own Tesla. He owns part of Tesla, but so do millions of other people. Obviously, Musk owns more of Tesla, which is why he is the richest man on earth. But someday, there will be a Tesla without Musk. Someday, someone else will be running the company and, if things go well, it will be just fine.

Musk's job is to do the right thing for all of Tesla's owners--its shareholders. Sure, some of those shareholders bought Tesla only because of Musk. They don't care at all about Tesla other than the fact it's the world's most valuable meme stock. Some of them, however, expect it to do things companies are supposed to do, like make money. 

They expect him to be a good steward of the company. They believe in its mission, and believe it is important to the world. Right now, a lot of Musk's extracurricular activities are distracting from that mission.

To be a steward is to manage something on behalf of someone else. That's the job of every CEO really. It's also his or her most difficult challenge--especially when they lead a company they founded. 

Knowing where the line is between yourself and your company is tough when you've poured everything you have into it. Sometimes, however, the best thing you can do is recognize that what you've built would be better off if you entrusted it to someone capable of being a better steward.

Look, there is no question that Elon Musk will not listen to me. He has no reason to, at all. If he did, however, I would tell him that if he really, truly cares about the future of Tesla, it's time to find someone who can be the leader it needs without all the distractions.