In an effort to counteract a weak first quarter, Tesla CEO Elon Musk said he plans to raise nearly $2.7 billion using a variety of debt and stock offerings.

According to Bloomberg, the car company filed to sell $1.35 billion in notes and nearly $650 million in shares to help overcome a nearly 30% drop in its share price.

Analysts suggested the move was a positive for the California-based company, which specializes in electric vehicles.

Dan Ives, analyst at Wedbush Securities told Bloomberg the company needed to “take its medicine and clear the air of the very real investor worries.”

Shares of Tesla rallied more than 4% Thursday to $244.10 at closing.

The company reported earnings of -$4.10 per share, which was a significant drop from analysts’ projections of -$1.69.

The move to raise debt is contrary to previous claims from Musk, who has suggested he would not have to approach Wall Street for a cash infusion amid previous weak quarters.

However, as Tesla looks at ways to produce a new robotaxi to complement other vehicles, the company is now desperate to offset its recent round of losses.

The biggest question now is whether Musk will find any potential buyers to secure the new funding needed to help return Tesla to financial stability.

Despite up-and-down earnings, Tesla has been able to appeal to equity investors. However, the track record of only having turned a profit on four quarters over 16 years could prove to make raising capital problematic.

Joel Livingston, an analyst for Bloomberg Intelligence, said Musk borrowing money from the bond market could be “onerous” after the company reported -$920 million in free cash flow in the first quarter.

“They shouldn’t be issuing high-coupon debt because don’t have cash in the first place to pay it off,” he said. “That’s not mathematically sound or prudent.”

He added that offering stock and looking for a secured-term loan would “help put Tesla’s liquidity fears to rest, and could ultimately support the stock price.”