Tesla's stock plunge could turn around quickly if it gets a 'real CEO,' investor Ross Gerber says

• Tesla's flagging stock price can rebound if CEO Elon Musk changes his behavior or is replaced, veteran investor Ross Gerber told Yahoo Finance.

• Musk's behavior on X, formerly Twitter, has turned him into the "devil of advertising," Gerber said.

• His comments follow a recent Tesla stock downgrade from Wells Fargo, which lowered its price target to $125 a share.

In order to fix Tesla's steep stock decline, CEO Elon Musk must either change his behavior or be replaced, long-time investor Ross Gerber told Yahoo Finance.

"This could turn around very quickly if either Tesla gets a real CEO who's actually going to help the company, or Elon changes his tune and actually comes back to working at Tesla and promoting the brand in a positive way," he said.

The electric vehicle maker has tumbled more than 36% year-to-date, a plunge that's emerged amid disappointing earnings, a lackluster product lineup, and broader market headwinds.

On Monday, Wells Fargo slashed the company's price target to $125 a share, implying a 23% drop from current levels. The bank characterized Tesla as a "growth company with no growth," and expects earnings per share to come in 32% below estimates for this year.

For investors such as Gerber, frustration over Musk's leadership and public behavior is peaking. This has become a point of contention ever since the CEO's purchase of X, formerly Twitter.