Due to Tesla's innovation and diversification, 24/7 Wall St. sees strong upside potential for the stock by the end of the decade.

Cathie Wood and her company, Ark Invest, are known for investing heavily in emerging technology and artificial intelligence.

Tesla TSLA is back in the spotlight as shareholders prepare to vote on CEO Elon Musk’s massive pay package — worth around $1 trillion. The proposal, which needs shareholder approval, has stirred debate over both its size and necessity.

After soaring in 2023 and 2024, shares of Tesla (NASDAQ:TSLA) were battered throughout Q1 but performed marginally better in Q2. The largest U.S. EV-maker slid into Q3 but staged a comeback. Things have been looking better of late,

Tesla stock has been particularly volatile as of late. Shares have moved more than 4%, up or down, eight times over the past month. That kind of trading can leave investors breathless—and looking for some direction.

Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.

Musk is currently Tesla's top shareholder, with a 15.8% stake in the company. If shareholders approve the pay deal, Musk could acquire voting control of more than 25% of Tesla shares if he hits all the milestones in the plan.

Once the undisputed leader of the global EV market, Tesla has seen its market share shrink sharply amid intensifying competition.