Alternatives to The Boring Company
The Boring Company is a privately held company controlled by Musk. Because it's not a publicly traded company, you can't purchase its shares in a regular brokerage account like you can for other stocks.
However, accredited investors (i.e., high-net-worth individuals or those with high incomes) can sometimes buy pre-IPO shares of companies like The Boring Company on secondary platforms such as Equity Bee or Forge Global. Accredited investors who really want to get in on the ground floor of this pre-IPO stock should check out those platforms to see if they have shares of The Boring Company available for purchase.
Unfortunately, non-accredited investors must wait for Musk to take The Boring Company public before they can buy shares. In the meantime, people interested in investing in Musk-backed companies or focused on enhancing infrastructure can consider an alternative. Here are three options to consider:
1. Tesla
Tesla (TSLA -1.60%) is a leading global manufacturer of electric vehicles (EVs), battery storage products, and solar energy products. Musk currently serves as its CEO. Although an investment in Tesla won't give investors exposure to The Boring Company, they can invest in another entity controlled by Musk.
2. Brookfield Infrastructure
Brookfield Infrastructure (BIPC -2.26%) is a leading global infrastructure operator and developer. The company has four operating segments: utilities, transport, midstream, and data. Brookfield's transport segment focuses on the movement of freight, commodities, and passengers. These businesses generate steady and growing income, the majority of which Brookfield pays to investors via dividends.
3. Transurban Group
Transurban Group (OTC:TRAU.F) is one of the world's leading toll road operators. The Australian company builds and operates toll roads in its home country, the Washington, D.C., area, and Montreal. The company operates 22 toll roads that support millions of vehicles per day.
How to buy stocks similar to The Boring Company
People who want to buy one of these alternatives to the Boring Company can purchase shares in any brokerage account. Here's a step-by-step guide to investing in these stocks.
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
