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Elon Musk stepping down as Twitter's CEO could be beneficial to Tesla stock, as investors want Musk to concentrate more on the electric-vehicle giant, according to Loup's Gene Munster.

"It's a positive for Tesla, because despite all of Elon's flaws, investors just want him to be more involved with Tesla. He just has this magnetic personality – debatable – but Tesla investors believe that. So having more of his time apply to Tesla helps with the multiple around Tesla," Munster said in an interview with CNBC on Monday.

Musk pulling away from Twitter could be bullish for Tesla, Munster said, as the electric cars behemoth has grappled with plunging stock this year while Musk altered his attention to Twitter.

So far, Tesla stock has slumped 60% this year, which Munster largely attributes to Musk's deteriorating image as Twitter's CEO.

"I believe over the last seven weeks as he's been more engaged with Twitter. He's damaged Tesla's brand. He's become more political, and I think there's a benefit to Tesla by him stepping back from Twitter," he said. "I believe this is a big deal for Tesla investors."

Since Musk took control of Twitter, he has begun an ambitious revamp of the social-media firm’s operations, which included sweeping layoffs and radical cost-cutting measures like not paying rent for Twitter's offices. 

On Sunday, Musk asked his Twitter followers if he should step down as CEO, vowing to abide by the results. Tesla stock soared 2% on Monday after Musk's poll showed 57.5% of respondents asking him to call it quits at Twitter.

Munster added he believed Musk would follow through with the poll results, despite dumping nearly $40 billion in Tesla stock over the past 14 months.

"Underneath this is his personal approach of doing things different. It's obviously unorthodox for a CEO to put his job up for votes, and I think Elon just enjoys doing that," he said.