5 minute, 21 second read I know you’re familiar with this company — Tesla Inc. (Nasdaq: TSLA ). Many of you probably own it. If you don’t, now is the time to get back in, as the company is poised to double in the next 12 months. I’ll say this right off the bat: Tesla is not the same company as it was just five years ago. Love him or hate him, Elon Musk’s technological powerhouse is most well-known for its strong hold on the electric vehicle (EV) market. Even though EVs aren’t all the rage as they were a few years ago, U.S. sales still jumped 60% year-over-year (YoY), from 1 million in 2022 to 1.6 million in 2023. EVs have sold slower than expected lately though. This has led to price cuts and smaller profit margins. In recent months, Tesla knocked $2,000 off the prices of the Models X and S, reducing the starting price to $77,990 for a Model X and $72,990 for a Model S. And in the overall EV market, according to Cox Automotive, the average transaction price for a new EV decreased by 9% in first-quarter (Q1) 2024 compared to Q1 2023. Edmunds also predicts that the EV growth rate will slow through 2024, increasing to just 8% of the new vehicle market share from 6.9% last year and 5.2% in 2022. But this won’t last much longer. And much of this is already priced into TSLA shares. I believe EV adoption will accelerate in the next few years; especially as the cost of making EVs continues to fall, and the government continues to incentivize buyers with steep tax credits. And there is no other automaker better positioned to capitalize on this trend than Tesla. But that’s not the main reason I believe it’s time to buy its stock right now. You see… Today, Tesla is so much more than an EV company. It’s more than a tech company. It’s a futuristic powerhouse. It develops some of the most advanced intellectual properties we have today — with staying power. Meaning, because of its success in the EV market, Tesla’s products and software have infiltrated several industries. From 2000 to 2023, Tesla filed over 3,400 patents worldwide (and counting). This includes energy storage and generation, manufacturing automation and autonomous vehicles. These innovations represent the present and future of the auto industry, and even the overall tech market. (More on that in a moment.) And okay, yes. I know Tesla’s gotten a lashing in the last few years … especially its share price. A 75% TSLA collapse from its November 2021 high to its low in January 2023 is pretty jarring… But I believe the worst is behind us. While it might not be up in a straight line from here, I believe that if you pick up shares of Tesla now, you’ll look back on this moment in a few years and be very happy. In fact, just a few years ago, my subscribers had the opportunity to turn Tesla into two big winners… I first recommended the stock in August 2019, where readers saw a 552% gain after we sold half the position in July 2020. Two months later in September, I believed the stock was overcrowded. We sold the remaining half of the position for a 919% gain. Now, I don’t think we’ll see that in the next 12 months. But this kind of return is likely throughout the rest of the decade — and potentially even more! Why?