The sharp dive Tesla, Inc TSLA Stocks by 2022 is alienating even its most staunch supporters, some say the damage is self-inflicted.

What happened: Tesla is no longer among the top 10 holdings in Korean Investment Management’s electric vehicle fund to Bloomberg.

The EV-specific mutual fund now has less than 2% of its net asset value invested in Elon Musk-owned company from previously 9%.

See also: Everything you need to know about Tesla stock

Some of the negative factors weighing on the stock include competition from traditional automakers and Musk’s sale of more Tesla shares to fund his acquisition, according to Hwang Woo-taek, the fund’s lead manager Twitter.

Tesla’s valuation is still high despite the recent share price drop. The company needs to prove it can meet expectations for new models and produce batteries in-house to drive down costs, he added.

The fund has consistently outperformed 98% of its peers over the past three years, including increased exposure to EV charging stocks Eaton Corp. plc ETN and ABB Ltd. FIGreported Bloomberg.

Why it matters: Tesla has lost stature. Based in Austin, Texas, the company needs to quiet the noise around it and focus primarily on innovation, execution and its finances.

Tesla shares fell 2.21% to $125.94 in Thursday’s premarket trading session Benzinga Pro data.

Continue reading: Why Tesla stock is falling sharply right now