Tesla shares slid by more than 9 percent on Thursday, a day after CEO Elon Musk warned sales might come in lower than expected for the year.
But the company lowering its sales guidance from 55,000 vehicles to as low as 50,000 isn't as much a sell signal as it is a "wait and see," according to Tigress Financial Partners CIO Ivan Feinseth.
"It's still hard to buy the stock at the current levels," he told CNBC's "Squawk on the Street." "I think you want to see all of the processes line up—the ability to introduce new models, to bring them out on time, to meet demand and hopefully demand remains strong."
Read More Tesla Model X: A design flop?
Production issues have delayed Tesla cars before, as is the case for the new Tesla crossover Model X, and when that news is passed along it's not uncommon to see shares tumble, Feinseth said.
"You have to look at Tesla in the perspective that it's an emerging growth company with an emerging product," he said. "They tend to be very volatile, ... and investors have to understand that."
But even with the delayed launch of its newest emerging product, demand remains strong with more than 20,000 customers putting up deposits for the new car expected late in the third quarter.
Some have worried historically low gas prices could impact Tesla sales much in the same way they played a role in a 15 percent decline for Toyota's Prius. However, Feinseth argued against the connection.
"Tesla's not an electric car," he said. "Tesla is a high performance, luxury car that happens to be electric. People aren't buying it because it's an electric and its fuel savings, they are buying it for the look, the performance, the features."
Read More Tesla autopilot about to steer Model S