Tesla shares have been fluctuating in value in recent weeks because of several factors, the most notable of them being CEO Elon Musk’s chaotic $44 billion Twitter deal. Some analysts say, however, that the recent stock selloff has overshadowed several key positives in the Tesla story and the opportunities that could come with it, including a “compelling entry point.”

                By                    Yaёl Bizouati-Kennedy

See: Tesla Loses More Than $500 Million From Bitcoin Crash — Is Your Investment Safe?Find: Elon Musk Says Tesla Cutting 10% of Salaried Workers, 3.5% of Total Workforce

In turn, he says that “Tesla has been unfairly punished by the market,” claiming that these factors are overshadowing several key positives, including exceptional operational and earnings execution, future production growth from the recent startup of the Austin and Berlin factories, dramatic balance sheet improvement, and an impressive pipeline of future products.

CFRA addresses additional concerns, including the increased competition, which it views as overblown “because we expect most of the new models to sell poorly.” The spike in gasoline prices could also be a positive for Tesla, according to CFRA, citing Kelley Blue Book/Cox Automotive recently estimating that U.S. EV sales surged 76% in Q1 2022, far outpacing the 15.7% decline for total new vehicle sales. EV market share increased to 5.2% of total U.S. new vehicle sales in Q1, up from 2.5% in Q1 2021.

CFRA Research has a Strong Buy opinion and a $1,200 price target on Tesla shares.

On June 21, Musk clarified how many employees at Tesla will be losing their jobs, following comments he made earlier this month about staff reduction.

Speaking at the Qatar Economic Forum on June 21, Musk said his EV company’s workforce would be reduced by 10% over the next three months, but that the overall headcount reduction would only be around 3.5% because hourly staff numbers are still expected to grow, according to Bloomberg.

And on June 10, Tesla finally revealed the long-awaited details of its 3-for-1 stock split in a Securities and Exchange Commission (SEC) filing. The company also said that board member Larry Ellison would be stepping down and not be replaced.

Discover: How Much You Would Have Made If You Invested Your Stimulus Checks in Tesla, Apple & Other Top Stocks

Shares of the electric vehicle (EV) company are down 40.7% year-to-date and were down 1.6% in pre-market trading on June 22.