Speaking to Benzinga, Tigress Financial Partners Chief Investment Officer Ivan Feinseth said that low oil prices are not causing the sell-off in shares of Tesla Motors Inc TSLA.
Cheap gas prices will affect electric vehicles, he said, but Tesla isn’t an electric car.
“Tesla is a high-performance luxury car that happens to be electric. There’s a difference,” he said.
Feinseth doesn’t believe that any consumer buying a Tesla weighs the decision on gas.
“If you can afford to spend $80,000 on a car, you’re not really concerned about the price of gas,” he said.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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