Boxabl Shares Plummet 50% Post-Public Offering

Boxabl, a modular housing company, has experienced a significant stock price decline of nearly 50% within its first week of trading on the Nasdaq exchange. The company went public on Monday through a merger with special purpose acquisition company FG Merger II Corp., a process that valued the firm at $3.5 billion with shares initially priced at $10. Despite an initial surge of 20% post-listing, Boxabl's stock ended Thursday's session trading around $5 per share, marking a substantial drop from its offering price.

Founded in 2017 by father-and-son duo Paolo and Galiano Tiramani, Boxabl aimed to address perceived issues in the housing market, having raised $230 million from over 50,000 investors through crowdfunding. Their primary product, The Casita, is a prefabricated tiny home available in studio, one-bedroom, or two-bedroom configurations, priced between $140,000 and $200,000. These homes are designed for rapid on-site assembly, reportedly taking less than an hour to unfold and set up.

Boxabl gained public attention partly due to speculation linking it to Elon Musk, after one of its modular homes was observed at SpaceX's Boca Chica, Texas, facility. Musk clarified via Twitter that while he found Boxabl a "cool product," he had been living in a different, less expensive house in South Texas for the preceding two years. The company was positioned as a disruptor within the growing modular housing sector, a market that reached $20.5 billion in 2025 and is projected to grow by an additional 6.5% by 2030.