Shares in Tesla (TSLA) stock dipped over 4% early Thursday morning ahead of the EV giant’s latest shareholder meeting. Tesla stock has been particularly volatile as of late, with shares moving more than 4%, up or down, eight times over the past month. The upcoming shareholder meeting has investors mixed on which direction the stock could go due to several factors.

Investors will decide whether to approve CEO Elon Musk’s $1 trillion pay deal, along with Tesla’s investment in xAI and several other measures. The proposed pay deal states that Musk must meet a series of goals to receive the full $1T compensation package. The milestones include 20 million Tesla vehicles delivered, 10 million active full self-driving subscriptions, 1 million Optimus robots delivered, and 1 million robotaxis in commercial operation. In the run-up to Thursday’s votes, Musk has said the $1 trillion pay proposal is less about compensation and more about building up his stake in Tesla to around 25%.

Norway’s $1.9 trillion sovereign wealth fund, which holds a 1.2% stake in the carmaker, will vote against CEO Elon Musk’s new compensation package. “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk,” the fund said in a statement.

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Whichever way the Tesla (TSLA) stock moves following this meeting is an uncertain projection. “Tesla has been working its way higher since the [August] breakout,” says Fairlead Strategies founder Katie Stockton. Resistance, Stockton says, is $489, the stock’s all-time high. “Initial support is currently in $415 to $417 range,” the analyst added in her investor’s note.