And, that’s just the first set of problems. Even if you're bullish on Musk's ability to make the Hyperloop a reality, a look at his other companies shows he wants them to be commercially viable before going public. You see, the Hyperloop design will allow a passenger pod to travel through an airless tube. The Hyperloop's potential 750-mph speed is more than twice as fast as maglev trains, which are currently the world's fastest with speeds of up to 268 mph. Musk has outsourced the design work via a series of competitions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Protected by copyright of the United States and international treaties. By Money Morning News Team, Money Morning • January 2, 2018. Click here to jump to comments…, Looking forward to the IPO of The Boring Company. The company has raised approximately $233 million from Venture Capital and internal investors including Elon Musk, 8VC, Craft Ventures, DFJ Growth, Dreamers VC, Future Ventures, Gigafund, Valor Capital Group, and Vy Capital.
Since then, the company has broken ground on tunnels in Los Angeles and Baltimore. Its name derives from its chief function: boring tunnels. While Musk says that might be as soon as 2020, it's still an indication that he wants his projects to be making money before holding an IPO. On July 20, Musk told his Twitter followers that the Boring Company had received approval to begin digging a tunnel between Washington, D.C., and New York. Boeing Company (The) Common Stock (BA) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. The Boring Company is attempting to increase the speed and drop the price of tunneling by a factor of ten to help decrease traffic and alleviate congestion in cities. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Research teams are invited to put together Hyperloop prototypes and test them during competitions at SpaceX's test track in California. Your email address will not be published. Latest News about The Boring Company. Second, the Boring Company will need to actually connect the cities via tunnel, which could prove difficult. Required fields are marked *, Sign me up for the Money Morning newsletter.
While Musk claims he has received "verbal approval" to connect Washington, D.C., to New York, and other projects are underway, connecting two cities will prove more difficult than boring the tunnels. The Boring Company was founded in December 2016 by Tesla and SpaceX CEO Elon Musk. Find the latest Borr Drilling Limited (BORR) stock discussion in Yahoo Finance's forum. Passengers leaving from New York City via the Hyperloop could reach Washington, D.C., in 30 minutes, with speeds of more than 750 mph, says Musk. The Boring Company bores the tunnels that will hold the "Hyperloop," a technology that will allow people to travel hundreds of miles in mere minutes. If you're looking for the Boring Company stock symbol, then you're going to have to wait several more years. Passengers leaving … But even as the Boring Company has begun boring tunnels, there are still three hurdles standing in the way of a public offering. The Boring Company was founded in December 2016 by Tesla and SpaceX CEO Elon Musk. Per reports from Bloomberg, the company last raised $120 million in July 2019 at a valuation of $920 million. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. Share your opinion and gain insight from other stock traders and investors. Trending: How to Buy Bitcoins – Your Guide to Digital Profits.
That means there won't be a Boring Company IPO any time soon. Click here….
Or to contact Money Morning Customer Service, click here. Here's what the company needs to do to go public, plus a special way you can start profiting from this sort of innovation now…. None of the information displayed on this page (i) represents an offer to buy or sell or a solicitation of an offer to buy or sell any security, (ii) constitutes an offer to provide investment advice or service, nor (iii) should be construed to mean that a company has officially endorsed a plan to participate in, or forego, an IPO merely by its inclusion on this page.
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