I don’t own any shares of Tesla Inc (NASDAQ:TSLA), nor do I plan to in the near future. I must admit, however, anytime I see a headline about Tesla CEO Elon Musk, I almost always give it a look. Love him or hate him, the guy is interesting. But if you haven’t read the recent interview Musk did with Bloomberg, it is quite the head-scratcher.
When I was reading it through the first time, however, I halfway suspected that Musk was trolling the reporter the entire time.
Here’s the “too long, didn’t read” summary: Stuck in traffic, Musk had an epiphany: Traffic could be avoided through a network of underground tunnels. Two months later, Musk founded a new company — “The Boring Company.”
In fact, even though the company doesn’t yet have permits to dig, he has already started tunneling in the SpaceX parking lot. He told Bloomberg he’s hoping to have permits by the time he hits the SpaceX property line. Indeed, his Twitter Inc (NYSE:TWTR) bio currently reads, “Tesla, SpaceX, Tunnels & OpenAI.”
TSLA Stock Investors Are Not Amused
Musk has a vision of thousands of miles of connected networks of underground tunnels with up to 30 different levels alleviating traffic congestion in the future. “It would certainly create a lot of jobs,” Musk said. “A trillion jobs. With a T.”
Obviously the trillion jobs remark is a joke. The name of Musk’s new venture, “The Boring Company,” may or may not be a joke, too. The idea that the CEO of a company trying to ramp up production by more than 550% in two years and disrupt the auto industry is starting a tunneling company is apparently not a joke. I read the article twice just to make sure.
The Potential Problem for Tesla Stock
Tesla stock wouldn’t be…
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