Tesla needs tons of cash to run its operations and make new investments. Its near-term projected liquidity is under severe stress. And an addition of another cash strapped company will only compound the problem. While in the long term, a better than expected demand of Model 3 may ease the cash crunch, the near-term prognosis is not good. And to get to the long-term survival in the short-term is important. The Altman Z-score shows Tesla runs a high risk of bankruptcy and the risk increases considerably. The most important task for Tesla now should be to shore up liquidity. After all, cash is always the king. Tesla stock is currently at best a speculative bet.