Sometimes, Tesla’s (NASDAQ:TSLA) Chief Executive Officer Elon Musk is known to be a divisive figure. This can cause the TSLA share price to fluctuate on a day-to-day basis. For the long term, however, investors are invited to dismiss the noise in the headlines and stay in the trade with TSLA stock.

Sure, Musk has rattled some cages lately with his ideas about remote working. It’s fine for investors to have an opinion on matters like this. Yet, clear-minded investing means sticking to the facts. For example, it’s a fact that Tesla was the most profitable U.S. automotive company in 2022’s first quarter.

In other words, there’s no other electric vehicle (EV) maker quite like Tesla. As we’ll see, the company is demonstrating progress, even if this doesn’t always make the front page of the news. And, if Tesla happens to be out of favor on Wall Street at the moment, it might be a prime time for a dip-buy.

What’s Happening with TSLA Stock?

Tesla’s shareholders may have done well over the long term, but so far, this year hasn’t been kind to the company’s investors. TSLA stock cost around $1,200 at the beginning of 2022, but before the end of June, it fell below $700.

Before you panic, just remember that professional investors are known to buy stocks when the amateurs are selling them. In this context, consider the words of CFRA Vice President and Equity Analyst Garrett Nelson, who called Tesla shares a “generational-type opportunity.” Nelson further opined that “the stock has really been unfairly punished.”

Wall Street isn’t always fair, but the point is duly noted. After all, Tesla reported first-quarter 2022 net income totaling $3.31 billion, up 658% year-over-year. Again, you can’t argue with the facts.

Moreover, Nelson forecasts “earnings growth from a little less than $7 a share that they earned last year, to north of $30 a share in earnings by the end of this decade.” That’s ambitious, but possible, as would be Tesla’s revenue “going from roughly $54 billion last year to north of $300 billion.”

Remember What Made Tesla Great

Tesla’s success isn’t all about revenue growth, though. What made Tesla great in the first place was the company’s drive to disrupt the EV industry.

In that spirit, Tesla is bringing back a driver assistance system, known as Enhanced Autopilot, in North America. This system includes features such as Auto Lane Change, Autopark and a beta version of Navigate on Autopilot.

Another inspiring development is that Tesla is upgrading its Gigafactory in Shanghai, China. With this upgrade, the factory will have a production capacity of 21,000 EVs per week. This would include 14,000 Model Y SUV units per week, which is up from around 11,000 during pre-Covid-19 pandemic times, and 7,700 Model 3 sedan units per week, which is up from 5,500.

What You Can Do Now

Like it or not, Musk will undoubtedly continue to express his viewpoints on a range of topics. Therefore, TSLA stock might not be to everyone’s taste.

However, the company’s financial data and encouraging recent developments point to a possible turnaround for Tesla’s shareholders. When in doubt, just try to remember why you liked Tesla in the first place and then consider holding your shares.

Tesla currently earns an “A” rating on my Portfolio Grader.

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.