A laterally stable foldable boat comprising a single sheet of corrugated plastic further comprising a first planar plastic substrate, a second planar plastic substrate, a plurality of elongate parallel ribs disposed between and joining the first and second plastic substrates, the plurality of elongate parallel ribs extend parallel along the entire length of the plastic substrates to form a plurality of open flute channels lengthwise through the substrates, a plurality of bend lines, a plurality of folding hinges located at each corner of the single sheet of corrugated plastic, and a stabilizing ballast, that further includes a first plurality of apertures centrally located in the hull area, wherein the first plurality of apertures are formed perpendicular to the sidewall bend lines and create at least one opening in the plurality of flute channels, wherein the first plurality of apertures allow water to enter or exit the plurality of flute channels running lengthwise through the foldable boat.