On Friday, Tesla has a $920 million payment in bonds to make as pressures mount for CEO Elon Musk amid its declining cash reserves. In its 15-year history, Tesla has only been profitable for three quarters.

In Q3 2018, Tesla made a profit of $312 million (about 4%), but capital expenditures were near the $2 billion level. With about $2 billion in cash according to a September 30 government filing, the company also holds about $9.8 billion in total liabilities and assets of $7.9 billion.

It puts the electric carmaker in a tenuous position as it delves deeper into 2019.

ETFs to watch with the heaviest weightings in Tesla include the VanEck Vectors Global Alt Energy ETF (NYSEArca: GEX), ARK Industrial Innovation ETF (NYSEArca: ARKQ) and the First Trust NASDAQ Cln Edge GrnEngyETF (NASDAQ: QCLN).

The $920 million bond payment due on March 1 includes convertible debt, so if the company’ stock is trading at or above $359.88, Tesla has the option to pay back the debt with stock as opposed to cash. The price of Tesla now currently stands at around $310, which means it needs to rally over 16 percent within the next couple of trading sessions.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.