Boxabl Shares Fall 50% Just Days After Tiny-Home Maker’s Public Offering

A tiny-home maker once touted by Elon Musk as a "cool product" has taken a heavy hit in its first week as a publicly traded company.Boxabl, a modular housing company based in Las Vegas, was listed on the Nasdaq exchange on Monday through a merger with a special purpose acquisition company, a method of going public that avoids a traditional initial public offering.Shares of the company initially surged 20%, but have since given up those gains, and ended Thursday's session down nearly 50% from its initial offering price.Boxabl was founded in 2017 by Paolo and Galiano Tiramani. The father-and-son team crowdsourced an astounding $230 million from more than 50,000 investors across multiple crowdfunding platforms.The pitch, as Paolo said in his public offering announcement, was that "the housing market is broken, and nobody was going to fix it."Boxabl's primary product is The Casita. The manufactured tiny home comes in a studio, one-bedroom, or two-bedroom version with a full kitchen, bathroom, and utilities.The studio starts at $140,000, while the two-bedroom version is priced at $200,000. The homes are designed to be unfolded on-site and assembled in less than an hour.After a modular h...