News
Elon Musk’s Boring Company asked to add more stops to Vegas Loop tunnels
Elon Musk’s Boring Company received its first official “approval” for the expansion of its Vegas Loop. The city’s Planning Commission openly showed support for the Boring Co.’s project, recommending an approval for the expansion of the Vegas Loop to the City Council. Before the recommendation, the Planning Commission suggested adding a stop to the loop in the Arts District as well.
The Las Vegas Arts District—known as 18b—is a cultural hub, filled with enticing creative opportunities and sights to titillate imaginative, adventurous minds. It offers a different sort of entertainment than the casinos and resorts in Sin City. The Planning Commission seemed eager to support a stop in the Arts District for the Vegas Loop.
“We’re very excited to see the (Boring Company’s) application come forward. It’s a special thing. It’s exciting that its coming through downtown. I can see on the map all the different stops associated with the casinos and hotels going up and down,” said one commissioner who had visited Boring Company’s tunnels before voting on the motion.
“I will say as it comes through downtown, you go through the Arts District. And I hope as you continue conversations through the City Council, franchise agreements, all the different things associated with it that having a stop somewhere in the Arts District is in the conversation,” the commissioner added.
The Vegas Loop’s expansion will be added to the City Council’s agenda on December 16, 2020. If passed, the tunneling startup’s Loop will run through some of Sin City’s popular destinations, including casinos along the Strip, Allegiant Stadium, and downtown Las Vegas as well as the McCarran International Airport. The Vegas Loop will also be connected to Boring Company’s Las Vegas Convention Center Loop.
The President of Boring Company Steve Davis presented the particulars of the expansion to the Planning Commission in a public meeting earlier this week. The Director of Public Works in Las Vegas city Mike Janssen supported Davis’s presentation by sharing his thoughts on the project.
“We had some early discussions with Steve (the head of Boring Company) and his team. In fact, you can imagine an office of mine, full of civil engineers, when a tunnel project comes along, a lot of our staff are excited about this project just because it’s not something you normally see,” he said.
“My team has even taken a stab at concept designs that might fit the city hall and the Arts District and what we look forward to is working with the applicant to find just what might fit.”
The Boring Company’s Las Vegas Convention Center Loop will be the tunneling startup’s first project that will be open for public use. Considering the support that the Boring Company has and is receiving from Las Vegas officials, however, Sin City may be where the tunneling startup proves its mettle as a mass transportation company.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
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Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
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Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla has expanded the footprint of a massive safety feature worldwide with a recent Software Update labeled as 2026.20.6. The expansion of the “Blind Spot Warning While Parked” feature represents the more widespread availability of the feature, which aims to prevent “dooring.”
Dooring is when a driver or passenger opens a car door into the path of an oncoming road user, usually a cyclist or motorcyclist. It is among the most common types of cycling accidents, the League of American Bicyclists says.
For this reason, Tesla created a feature that warns occupants not to open the door because an object is approaching. The feature will sound a chime, and it will also delay the opening of the door to prevent an incident.
The release notes state (via Not a Tesla App):
“If you attempt to open a door while an approaching object is detected in your blind spot (for example, a bicyclist approaching from behind) a chime sounds, and your door will not open upon initial button press. Wait a short time and press the button a second time to override the warning.”
Tesla initially rolled out this feature back in 2024 with the Model 3 “Highland.” However, it remained with the Model 3 exclusively for over a year; that was until Tesla added it to the Cybertruck this past Spring.
Now, it is making its way to the new Model Y, 2021 and newer Model S, and 2021 or newer Model X.
The prevention of dooring incidents could eliminate many injuries to cyclists, especially in an urban setting. Dooring accounts for 10-20 percent of bike-related crashes in major cities, and over 17,000 dooring-related incidents were treated in the U.S. over the course of a decade. These usually involve fractures, contusions, and head trauma.
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
SpaceX gets initial stock coverage from Tesla’s biggest bull
