Boxabl shot to fame in 2021 when some media reports suggested that Tesla Chief Executive Officer (CEO) Elon Musk was living in one of the home models designed by the Las Vega-based company.
However, in November 2021, Elon Musk had ended all the rumours and said that he had been living in a small house worth US$ 50,000 for the past two years, but it was not Boxabl.
Although, the Tesla CEO had added that Boxabl had 'cool' products to offer. Since then, it seems that Boxabl has remained on the radar of investors, and they often search on how to buy the Boxabl stock.
What is Boxabl?
As per the official website, Boxabl is a modular construction company. It builds and supplies accessory dwelling units (ADUs) in the United States. It aims to revolutionize the housing market by reducing housing costs and delivering houses of the highest quality.
Notably, the ADUs are small backyard homes, and Boxabl ADUs are easily portable and can be delivered and unpacked in an hour. The company's first product was named Casita, and it cost around US$ 49,500 per unit.
Boxabl products are estimated to be a game-changer in the United States as constructing a house is expensive. As per the official website, there's massive interest from customers in Casita, and Boxabl has a long waitlist.
The company says that new customers will have to wait for at least 12 months, and they have recently finished setting up Factory 1 in Las Vegas.
Boxabl claims that its units can withstand extreme weather conditions like hurricane speed winds. Also, the Boxabl homes were designed keeping fire resistance in mind, and the interior and exterior of the structure are made of non-combustible materials.
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As climate change is of the major global issues, Boxabl has designed energy-efficient buildings with features like high R-value insulation, limited thermal bridging and a tight building envelope.
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Bottom line
Box has not announced its initial public offering (IPO) plan. However, it did disclose a way to purchase its shares. On Tuesday, April 5, Boxabl announced on Twitter that its shares are available at US$ 0.8 per unit, and a minimum investment of US$ 1,000 is required to buy its shares.
As of June 30, 2021, Boxabl's cash and cash equivalents were worth US$ 6.3 million compared to US$ 3.7 million in 2020. In the first half of the previous year, the value of the total assets had increased to US$ 14.4 million from US$ 4.8 million in 2020.
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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
